We consider a two-period portfolio problem with predictable assets returns. First-order (second-order) predictability … stochastic interest rates (bond portfolios) belong to one of these two types of predictability. We first show that a first … is uniformly larger than unity. This implies that first-order predictability generates a positive hedging demand for …

implications of investment horizon and return predictability when real interest rates and expected excess returns on stock and …

This thesis consists of empirical studies on various aspects of international corporate finance, a series of long … knowledge on measuring, documenting and determining various issues in international corporate finance, and provides …

to determine if readily available finance and macro-economic variables can help investors determine which years are more … detectable with macro-economic and finance variables. The MT-BH metric allows investors and brokers to determine when to switch … to determine if readily available finance and macro-economic variables can help investors determine which years are more …