"An updated and rousing look at proven strategies to build a winning portfolio In The Little Book of Bull Moves 2.0, popular author and economic advisor, Peter Schiff, takes a new look at America's bull markets of the 1920's, 1960's, and 1990's, and the bear markets that followed. Analyzing...

In this paper, we address the question whether the impact of default risk on equity returns depends on the financial system firms operate in. Using an implementation of Merton's option-pricing model for the value of equity to estimate firms' default risk, we construct a factor that measures the...

Anecdotal evidence suggests that investor protection affects the demand for equity, but existing theories emphasize only the effect of investor protection on the supply of equity. We build a model showing that the demand for equity is important in explaining financial development. If the level...