This table presents summary statistics for the factors considered for the study: market excess returns (MKT), the growth of financial assets (ASSET), the growth of liability

In addition, she tends to lay even higher emphasis on the private information when it is supported by her prior forecast (i. confidence-enhancement bias). Secondly, I study

ediv_g is the expected dividend growth rate computed from MSCI Equity Index, MSCI Total Returns and Net Returns indices.. vol is the volatility of MSCI International Equity

• Multiply the number of students being tested by 20 Kbps to get an estimate of bandwidth needed, and compare that estimate with a network speed test..

In particular, stock returns are regressed on an intercept (not reported), the foreign institutional ownership return (Ownership Return), an institutional ownership return using

In this subsection, I test the pricing power of shocks to the US monetary policy uncertainty for the cross-section of carry and momentum portfolios.. As the bench- mark

Figure I.3 displays the impact of the local curvature, as implied by average risk aversion 22 , on the slope coefficient for three different levels of habit volatility.. 23 In the

If price is an accurate proxy for retail ownership, this indicates that retail investors as representative investors of lowest-priced stocks require a positive idiosyncratic

In this paper, we introduce a new iterative scheme for finding a common element of the set of fixed point of left amenable semigroup, the zero point set of

This table presents OLS regressions of the equally weighted portfolio returns of convertible bond mutual funds on the price-pressure risk factor PP and PP · PL (where PL is a

Following similar intuition as in the case with ex post financing, a bank prefers internal financing to outside financing, and chooses leverage levels to maximise its retained

The e¤ect is even more signi…cant than for the boom period, as if we compare counties in the top versus the bottom decile of presence of national banks in states with

Using a sample of 1,612 commercial banks operating in 32 OECD countries from 1999 to 2014 and the Berger and Bouwman ( 2009 ) liquidity creation measure to capture banks’

If a local bank was placed in a county where a deposit market share of a high-risk-bank was large, the local bank raised its deposit interest rate significantly or faced

In this paper, I study the investment factor and document that the investment premium (1) reflects financial leverage, (2) does not exist among zero-leverage firms, and (3)

The first two chapters use the circuit of cap- ital modeling methodology to study the relation between growth and profitability in capitalist economy where credit is essential, and

transmission of shocks came to the conclusion that the share of foreign assets in investors’ portfolios matters at most quantitatively for the synchronization of business cycles

It is difficult to find investor ’Too Big To Fail’ premiums appearing via positive abnormal returns during the crisis save for the debt holders of both the largest banks during