Financial Modelling

On the Use of Credit Rating Migration Matrices -- Do Stock Market Anomalies Disappear? The Example of Small Size and Market-to-Book Premia at the London Stock Exchange -- Testing Independence: A New Approach -- Forecasting Exchange Rates Volatilities Using Artificial Neural Networks -- An Application of Hybrid Models in Credit Scoring -- Portfolio Selection Via Goal Programming -- ARCH Factor: A New Methodology to Estimate Value at Risk -- A Problem of Optimization in a Case of Foreign Investment -- Improving Portfolio Performances Using Options Strategies -- An X-Efficiency Analysis of Different Banking Organizational Types in Europe -- Towards a Coherent Volatility Pricing Model: An Empirical Comparison -- Direction Indicators in Financial Modelling -- Stock-Split Ex-Dates: Evidence from the Spanish Stock Market -- Portfolio Performance Through the Eyes of Monkeys -- Approximation Properties of the Neuro-Fuzzy Minimum Function -- A Stakeholder Approach to the Valuation of Corporate Cash Flows -- Fuzzy Mathematical Programming for Portfolio Management -- Business Investment and Financial Constraints. Evidence of Spanish Case by Using Company Level Panel Data -- A Portfolio Problem with Uncertainty -- Pricing Seats as Barrier Options. Implications for the Futures Markets -- Volatility Transmission Between Stock Markets -- Incentive Contracts and Performance Measures Based on Accrual Accounting Numbers -- A General Approach to Different Concepts of Cost of Capital -- European Banks and the Creditmetrics Model: Can We Make its Implementation Easier? -- Informational and Operational Financial Modelling as Strategic Part of the Corporate Criminal Intelligence Analysis -- Immunization of Portfolios with Liabilities -- Analysis and Forecasting of Social Security: A Study of Robustness.