Selecting skilled mutual funds through the multiple testing framework has received increasing attention from finance researchers and statisticians. The intercept $\alpha$ of Carhart four-factor model is commonly used to measure the true performance of mutual funds, and positive $\alpha$'s are...

This paper conducts a large-scale multi-country longitudinal study and examines the extent that firms are exposed to commodity price risk in 23 OCED countries. An industry analysis reveals that all industries are significantly exposed to commodity price movement ranging between 8-10% except for...