The present paper is focused on the examination of long-run relationships between specific stock indices and a number of economic factors in the Athens Stock Exchange (ASE) during the period between 1989 and 2006. After a theoretical and empirical review of unit root and cointegration analysis...

The aim of this study is to empirically examine the four elements of intellectual capital (human capital, customer capital, structural capital and innovation capital) and their relationship with business performance in the Athens Stock Exchange (ASE). This study was conducted based on a...

My dissertation aims at understanding the financing and investment decisions of firms. It contains two chapters.Chapter One studies the currency composition of debt for firms in emerging economies. Using a dataset of traded Mexican firms, I document two stylized facts about firms in the...

What is the cross-sectional relationship between financial leverage and expected equity returns? How is the empirical relationship associated with firm's financial decisions? This dissertation investigates the potential explanations for the flatness relation between financial leverage and...

Chapter 1 analyzes hybrid-trigger CAT bonds, a new CAT bond deal that can reduce basis risk and eliminate moral hazard simultaneously. It is the first research that provides analytical evidence on the condition under which the hybrid trigger has lower basis risk. Simulation results support my...

I investigate: (i) Agency problems between debt and equity holders, and their impact on capital structure and investment policy; (ii) Agency problems between firm managers and capital providers.The first chapter, "Investment and Financing under Reverse Asset Substitution", shows that banks place...

We conduct an experiment to examine how lending decisions are affected by lender perceptions of reporting and governance quality. We perform a set of experiments to determine whether lenders are sensitive to the quality of governance as measured by board composition along multiple dimensions,...

Our contribution to the literature on asset price bubbles is that we seek to determine whether bubbles can be prevented through reading articles about bubbles. We created three experimental asset markets to evaluate the efficacy of readings on the creation of a bubble. One group read a...

We examine common asset allocation strategies for retirement investing, considering both static and dynamic approaches, as well as those allocation policies used by leading target-date fund providers. We studied the average performance of each strategy over historical rolling periods (that is,...

A pension plan often tends to be one of the company’s biggest liabilities. Before 2008, pension plans were not directly included in the financial statements, but could only be found in the footnote disclosures. Such accounting convention essentially made pensions a type of off-balance sheet...