We provide numerically reliable analytical expressions for the score of conditionally heteroskedastic dynamic regression models when the conditional distribution is multivariate $t$. We also derive one-sided and 2-sided LM tests for multivariate normality versus multivariate $t$ based on the...

In this paper, we consider multivariate models for returns on Russian equities based on normal distribution, t-distribution with scalar degrees of freedom parameter and t-distribution with vector degrees of freedom parameter. Our models capture autocorrelation, volatility clustering, dynamic...

Originating in the Anglo-American world, the 'New Public Management' (NPM) paradigm appears to have swept over various Continental-European countries, producing convergence of administrative reform. This text explains how the ambiguous concept of NPM is crafted and shaped differently in various...