This note provides some evidence of the sensitivity of firm survival duration dependence to time aggregation, when durations are Weibull distributed. The results indicate that estimates of duration dependence are always positively biased: This bias increases with the width of time aggregation...

The main purpose of this paper is the identification of the characteristics of takeover targets in a small open economy like Greece, using the market for corporate control (MCC) hypothesis as theoretical background. Contrary to this hypothesis, the results indicate that the motives for merging...

Several recently developed chaotic forecasting methods give better results than the random walk forecasts. However they do not take into account specific regularities of stock returns reported in empirical finance literature, such as the calendar effects. In this paper, we present a method for...

This paper uses spectral analysis to examine interrelationships between the daily returns generated by one US (S&P 500) and three major European (FTSE 100, DAX 30, CAC 40) share price indices. Evidence is found of strong interdependence between the European returns series, as well as a lead-lag...

A method is presented that takes into account the day-of-the-week and the turn-of-the-month effect and the holiday effect and embodies them to neural network forecasting. It adjusts the time series in order to make its dynamics less distorted. After a predicted value is calculated by the...

We studied empirically American no-load equity mutual funds that invest in European stocks and keep their managers for more than three years, in order to investigate the persistence of the short-term performance, and the related investment style. The results showed an underperformance compared...

The question of whether there is a tendency for regional convergence has become a central topic for economic research. This paper considers the issue of convergence across Greek regions, following the theoretical basis of the neoclassical model of economic growth. Our analysis finds no evidence...

<title/> SIRIOPOULOS C. and ASTERIOU D. (1998) Testing for convergence across the Greek regions, <italic>Reg. Studies</italic> 32, 537-546. During the last five years, few issues have proved more controversial in empirical economics than the so-called convergence hypothesis. This paper examines the issue of convergence...

This paper investigates the effect that the creation of the Monetary Policy Committee (MPC) has had on the interest rate risk which banks and life insurance companies face in the UK. By means of GARCH-M methodology, the stock returns are modelled on the CAPM and the Fama-French asset-pricing...