In this article, we have tested the full information maximum likelihood, (FIML) of the natural logarithmic monthly returns of the CAD/USD, DKK/USD, CHF/USD and JPY/USD spot exchange rates. We have applied a system of four equations of the spot exchange rates to test and spot volatility...

This article examines the performance persistence of 210 UK investment trusts form the period January 1990 to January 2006. We use a sample free of survivorship bias and measure performance using risk adjusted measures. High values of the Treynor, Sharpe and information ratio are an indication...

The interaction of arbitrageurs and noise trading from a behavioural Orthodox approach is a new area of research. Noise traders are misled and they are making decisions not on data and forecasts, but based on their personal opinion. Their wrong estimate creates discount persistence throughout...

This article measures the total government indebtedness, total investment and gross national savings of Greece, Italy, Portugal, and Spain, (GIPS). Using data from the International Monetary Fund, IMF, we describe the current situation for the period 2000 to 2018. Macroeconomic indicators such...

In this article, we are testing the effects of an inverted Yield curve, as a result of the relationship between the short and long-term interest rates of the US Treasury with constant maturities. Our aim is to illustrate and spot cycles that created the US recession in 2008 based on Estrella and...

This book is designed to provide an overview and introduction to the financial services sector by putting the theory into practice. The book is focusing to facilitate and keep the level of mathematics in a simple and accessible way. A lot of international students and especially the one that do...

This article examines the performance and persistence of 210 UK investment trusts using a large survivorship bias-free sample for funds that has terminated, merged or unitized.The methodology that we have used is contingency tables. In order to examine performance persistence we rank the returns...

We check performance persistence of UK investment trusts in terms of both market price returns and net asset value average returns in each category. In addition, we use regression models to test market timing ability. We use a sample of 210 UK investment trusts. Our results are not including...

We have used a sample of 210 UK investment trusts to test performance persistence in different time periods. We bootstrapped on the monthly returns over successive years over the whole period starting from 01/01/1990 to 01/01/2006. The estimated and simulated return was computed by sampling...