Identifying the type of corporate environmental actions that are most effective in aligning firms' economic interests with broader environmental needs is a crucial challenge in sustainable business practice research. In this manuscript, we use a novel sustainability behavioural dataset to derive...

The estimation of the volatility with high-frequency data is plagued by the presence of microstructure noise, which leads to biased measures. Alternative estimators have been developed and tested either on specific structures of the noise or by the speed of convergence to their asymptotic...

This study analyses the situation of the Brazilian population vis-a-vis the Social Security System (SSS) using data from PNAD. We chose the 1982, 1992 and 2002 PNAD data to give a series of pictures of the Brazilian population at equal intervals but under different legal instances with respect...

Corporate earnings announcements unpack large bundles of information that should, if markets are efficient, almost surely trigger jumps in stock prices immediately after the news release. Testing this implication is difficult in practice because most earnings announcements occur in the...

We develop a model for point processes on the real line, where the intensity can be locally unbounded without inducing an explosion. In contrast to an orderly point process, for which the probability of observing more than one event over a short time interval is negligible, the bursting...

Benoit Mandelbrot (1924-2010), a pioneering mathematician, created a new awareness of the chaos of nature - its randomness, irregular shapes, sharp edges, corners, and gaps. He developed the theory of fractals to describe these phenomena, and he also applied his concepts to financial markets....

The disappointing performances of existing economic models are largely due to their reliance on physical calendar time, making them static and rigid. Ultimately, this means that they fail to respond to the disruptive events that characterize markets and the economy at large with sufficient...

Economic models are the tools of decision makers in governments and central banks. As such, they affect our everyday lives. But what is the actual track record of these models, and do they really work? Applying them in real time and validating them on a day-by-day basis leads to a clear...

This essay argues that the current global financial and political system was not designed for a technology-driven society and, as such, is unfit for purpose. In short, it is a “broken bicycle”; no matter how expert the rider, the result will always be failure. To fix the bicycle, we have to...

In a globalized world, more and more decisions taken by public and private agents are based, directly or indirectly, on international statistics. By putting the national data into perspective and/or complement them with additional indicators, data produced and disseminated by international...