It has recently been argued that we should no longer associate peakedness with kurtosis (Westfall, 2014). The main part of the argument is based on a decomposition of kurtosis into terms associated with the center or with the tails of a distribution. Simple empirical, simulated, and analytical...

Karl Pearson's chi-squared test is widely known and used, both as a goodness-of-fit test for hypothesized distributions or frequencies, and in tests of independence in contingency tables. The test was introduced in Pearson (1900), but the derivation in that paper is almost incomprehensible. Two...

We provide a new pathway to the derivation of a half-dozen statistical results under standard assumptions, including key results due to Student and Fisher. To the best of our knowledge, these are the first new derivations of these results in 75 years. Our work links two seemingly disparate...

This paper is an updated guide for newly minted PhDs entering the academic finance job market for the first time. We describe the institutional details of how this labor market works and what rookies need to know to improve their chances of getting the right job. We give advice for application...

We use the Lindberg-Levy central limit theorem (CLT), Tchebychev's inequality, Slutsky's theorem, and general rules for limiting distributions to demonstrate sufficient conditions under which the Student-t test statistic for the mean is asymptotically standard normal. Although there exist weaker...

We derive a simple expression for the sensitivity of duration, convexity, and higher-order bond risk measures to changes in term structure shape parameters. Our analysis enables fixed income portfolio managers to capture the combined effects of term structure level, slope, and curvature shifts...