This paper provides evidence that venture capitalists' (VCs') market reputation consists of two components: an expected component derived from "expectations about VCs' ability to deliver relatively safe ventures to market" and an unexpected component derived from "unanticipated improvements in...

This study demonstrates that a market structure within which anticipation of an adverse increase to market volatility risk in future periods induces proactive `exits' from, and `entries' into stock markets leads to the formal theoretical prediction that `ability risk' is priced. The formally...

It is a stylized fact of formal mathematical modeling that a 'space' cannot be described by attempts at parameterization of distances or areas (under or above curves) that feasibly could occur within the space. Tools for parameterization of mathematical spaces, such as Set Theory, Connectedness,...

Whereas risk tolerance is an important parameter of financial intermediation in markets for mutual funds, formal theoretical predictions show funds managers' choices of portfolio risk tolerances can be induced in entirety by wealth considerations. An important implication of this finding is the...

This study shows listings of new issues that occur in order of increasing, or decreasing average quality are general equilibrium listing paths, equivalently necessary conditions for maintenance of best valuations within stock markets. This finding demonstrates robustness of an existing price...

Using data for three publicly quoted firms, all of whom operate within the upstream oil industry, this study provides evidence for feasibility of incidence of contradictions (`contradictions of ranking') between a ranking of fundamental valuations, and corresponding ranking of market valuations....

Absent superior performance with respect to 'Portfolio Innovation Focus' (unexpected innovation), this study finds 'less experienced' ('competing') VCs, which only coinvest with other less experienced VCs, become less reputable than alternate less experienced ('non-competing') VCs who coinvest...

PurposeThis study examines whether the skewness of bid-ask spreads (bid-ask skewness), an information factor, can outperform the skewness of the exchange rate process (FX skewness) - a momentum variable - at forecasting future realizations of exchange rates.Design/Methodology/ApproachEmpirical...

Let IPO volume simply be denoted `volume'. This study finds low and high volume regimes within stock markets are, respectively characterized by low or high valuation uncertainty risk, with outcome underpricing is higher yet more disparate in context of high volume regimes. This finding questions...

This study develops an empirical framework for assessment of effects of inflows of foreign capital on monetary equilibriums in countries that operate hybrid exchange rate regimes. Empirical findings obtained using the framework demonstrate "distortions" to inflows of Foreign Direct Investment...