The Euro Crisis has stopped the process of the European financial integration and triggered a strong repatriation of debt from foreign to domestic investors. We investigate this empirical pattern in light of competing theories of cross-border portfolio allocation. Three empirical regularities...

This paper examines the country and industry effects on the cross-sectional variance of firms’ equity return in the Association of Southeast Asian Nations (ASEAN) member countries. Using the model developed by Heston and Rouwenhorst (1994), this article covers five ASEAN countries and ten...

This paper examines the country and industry effects on the cross-sectional variance of firms’ equity return in the Association of Southeast Asian Nations (ASEAN) member countries. Using the model developed by Heston and Rouwenhorst (1994), this article covers five ASEAN countries and ten...

The financial theory related to the bond portfolio analysis was coined by Harry Markowitz, an authentic’ pioneer of the modern bond theory’, and his well-thought interpretation of the bond selection model may be found in his research papers “Portfolio Selection” (Markowitz M. Harry,...

The paper reveals a few relevant dimensions of the need of adopting for, and the characteristics, role, objectives, and scope of Global standard in investment performance.

The equilibrium prices in asset markets, as stated by Keynes (1930): "...will be fixed at the point at which the sales of the bears and the purchases of the bulls are balanced." We propose a descriptive theory of finance explicating Keynes' claim that the prices of assets today equilibrate the...

The equilibrium prices in asset markets, as stated by Keynes (1930): "...will be fixed at the point at which the sales of the bears and the purchases of the bulls are balanced." We propose a descriptive theory of finance explicating Keynes' claim that the prices of assets today equilibrate the...

We propose Keynesian utilities as a new class of non-expected utility functions representing the preferences of investors for optimism, defined as the composition of the investor's preferences for risk and her preferences for ambiguity. The optimism or pessimism of Keynesian utilities is...

In this paper we categorise accruals on the basis of how they are generated, and empirically evaluate whether this categorisation provides additional insights into future earnings and is relevant to the estimation of firm value. Specifically, we categorise accruals on the basis of whether the...

A tanulmány célja azoknak a tényezőknek az azonosítása, amelyek hozzájárultak Ma gyarország tőkepiaci versenyképességének fenntartásához, és az elmúlt másfél évti zedben hatottak az országba érkező tőkebefektetésekre. A szakirodalom szerint ki emelt szerepet játszó...