The volume collects a selection of papers of the 21st EURO Working Group on Financial Modelling. The papers in this book provide a representative, though not complete, sample of the current scientific activity in the field of quantitative finance. Such activity is not only theoretical but also...

This collection of fifteen original articles results from a cooperative intensive program of research on the German capital market. The program objectives included the development of expertise in modern empirical methods in financial economics and the derivation of results that might be specific...

The book deals with several aspects of the impact of corporate financial decisions on market value. In particular, the implications of market efficiency for prices and dividends are examined in details through both analytical methods and numerical simulations. The book also analyzes: a) the...