We study the use of stochastic discount factor (SDF) models in evaluating the investment performance of portfolio managers. By constructing artificial mutual funds with known levels of investment ability, we evaluate a large set of SDF models. We find that the measures of performance are not...

In this paper we estimate risk-neutral returns distributions using the prices of options written on S&P 500 index futures and investigate whether or not specific characteristics of the returns distributions might be useful information for the purpose of predicting changes in market direction....

In the face of climate change and oil shortages, nuclear technology offers many important possibilities. Separating myth from reality, Half-Lives evaluates the promise of nuclear technology as a source of clean energy, as well as the wide range of applications in medicine and industry it offers...

Purpose – The purpose of this paper is to empirically study the relationship between informed trading and overall corporate governance mechanisms. Design/methodology/approach – A broad range of governance characteristics are used to measure the governance structure of firms in the Toronto...

Describes the link between the potential improvements that can be made in business performance and the practical incorporation of psychometric instruments within human resource strategies. Explains psychometrics which is used in two quite different contexts: with a business orientation; or to...

Sepracor, a pharmaceuticals provider, introduced a strategic plan to help develop an employment brand and support its growth. Regina DeTore, Sepracor’s VP of HR, and David Jackson, Mercer communication consultant, explain the step‐by‐step process the company used to build and manage a...

Examines the latest management fad, business process re‐engineering (BPR). Argues that while little is really new, the need for organizations to embrace process improvement is high. Discusses some key success factors for organizations taking the BPR route.