In this study, we propose our hypothesis that the distinguishable principal-agent relationships of German banks are significantly influencing the risk-taking attitudes of bank managers. Particularly, we intend to substantiate the theory that banks owned by dispersed shareholders or federal state...

Professional market advisory services provide specific advice (advisory programs) to grain producers on how to market their commodities, and assist them in their efforts to manage price risk. Previous studies analyzed the effectiveness of individual services and could find only weak evidence...

En este artículo se realiza una introducción a la valoración económica en el sector de la numismática. A tal efecto, se describen las variables explicativas más importantes del valor de mercado de una moneda, calculando un modelo de regresión múltiple. Las variables más representativas...

It is widely assumed that common stock returns approximate a random walk, i.e., the returns are assumed to be serially independent. As a consequence, estimates of systematic risk and efficient portfolios are usually developed using any convenient differencing interval with the implication that...

This paper proposes a pragmatic, discrete time indicator to gauge the performance of portfolios over time. Integrating the shortage function (Luenberger, 1995) into a Luenberger portfolio productivity indicator (Chambers, 2002), this study estimates the changes in the relative positions of...

This study proposes a model of investment portfolios selection for insurance companies on the Romanian market, taking into account the legal restrictions referring to them. In solving the problem I used the Kuhn-Tucker method applied to a portfolio consisting of four types of assets. Results...

This paper investigates the performance of efficient portfolios in a financial market with heterogeneous investors including rational traders, noise traders, and chartists. A generalization of the security market line result states that, regardless of the diversity of beliefs, the portfolios of...