Similar Search Results

ESSAYS IN CROSS-COUNTRY CONSUMPTION RISK SHARING

Qiao, Zhaogang - 2010

This dissertation concerns cross-country consumption risk sharing in a long-run perspective. Financial integration, empirically measured by cross-country holdings of assets and liabilities, has increased dramatically in the past two decades. But what can explain the lack of cross-country risk...

Persistent link: https://www.econbiz.de/10009450622

Three essays on corporate pension underfunding, securities valuation and market efficiency

Zhang, Ting - 2009

This dissertation consists of three essays on corporate pension plan underfunding and securities valuation. The first essay presents evidence that sell-side stock analysts systematically underreact to pension underfunding information when they forecast firm earnings and such underreaction is...

Persistent link: https://www.econbiz.de/10009455835

A Bayesian analysis of a variance decomposition for stock returns

Hollifield, B.; Koop, G.M.; Li, K. - 2003

We apply Bayesian methods to study a common vector autoregression (VAR)-based approach for decomposing the variance of excess stock returns into components reflecting news about future excess stock returns, future real interest rates, and future dividends. We develop a new prior elicitation...

Persistent link: https://www.econbiz.de/10009459792

Essays on risk aversion, diversification and non-participation

Hibbert, Ann Marie - 2008

in the level of education and finance knowledge, there is evidence that when individuals have the same level of education …, irrespective of their knowledge of finance, women are no more risk-averse than their male counterparts. However, the gender …-sectional analyses suggest that knowledge of finance increases the likelihood that an investor will efficiently allocate his direct …

Persistent link: https://www.econbiz.de/10009460603

Reconsidering public-private partnerships in developing countries

Jomo, K. S.; Chowdhury, Anis - 2009

Where large-scale investments are needed, especially for infrastructure projects, public-private partnerships (PPPs) have been touted as an option. With encouragement by the international financial institutions, PPPs have been promoted in developing countries, especially those facing large...

Persistent link: https://www.econbiz.de/10009481955

Semiparametric Bayesian inference in multiple equation models

Koop, G.M.; Poirier, D.; Tobias, J. - 2005

This paper outlines an approach to Bayesian semiparametric regression in multiple equation models which can be used to carry out inference in seemingly unrelated regressions or simultaneous equations models with nonparametric components. The approach treats the points on each nonparametric...

Persistent link: https://www.econbiz.de/10009484409

Are credit unions in Ecuador achieving economies of scale?

Marchio, Nick A - 2009

This study tests the assertion that membership growth in credit unions is constrained by their unique structural features, such as their non-profit mission and member-based ownership. Although these features enhance inclusiveness, existing theory suggest that they work against efficiency when...

Persistent link: https://www.econbiz.de/10009429048

Essays in financial economics

Loshak, Boris Markovich - 1996

In Part I we develop a model of entry in which an entrant with private information about its production cost and cost of entry has an opportunity to trade in the stock of a single incumbent before entry. We assume an efficient stock market populated by risk-neutral liquidity sellers who randomly...

Persistent link: https://www.econbiz.de/10009430335

Parallel market exchange rates in developing and reforming economies

Arora, Sudeep - 1996

This thesis develops a model of black market for foreign currency that focuses on the interaction of portfolio decisions and the determinants of the net flows of black foreign currency. The model explicitly incorporates foreign exchange restrictions as well as the demands arising from smuggling....

Persistent link: https://www.econbiz.de/10009430375

Essays on the emergence of captive finance companies and risk segmentation of the consumer loan market: Theory and evidence

Chong, Byung-Uk - 2004

finance company for expanding the sales by offering loans to consumers who need financing for purchase of durable good. The … model presents that each captive finance company will set a more lenient credit standard than that of a bank, leading to the … captive finance company examined in Essay 1, Essay 2 examines risk segmentation of consumer loan market by banks and captive …

Persistent link: https://www.econbiz.de/10009430522