After correcting industry returns for general market movements and known risk factors, using either the Single-Index or the Fama-French three-factor model, we find no evidence of two well known political effects documented for general stock market returns in the United States. Contrary to the...

In the money management industry, there is a quot;quietquot; controversy over who does a better job, Traditional Managers (Fundamentalists), or Quantitative Managers. This issue has been examined by Gruber (1996), and Pastor and Stambaugh (2003) and more recently by Zhao (2006) and Wermers, Yao...