In the business-to-business sector large quantities of the internationally traded goods are transported by hundreds in identical parcels inside shipping containers. These parcels are often unloaded manually, which is labor-intensive and physically demanding. In previous papers, we presented a...

Beta-sorted portfolios-portfolios comprised of assets with similar covariation to selected risk factors-are a popular tool in empirical finance to analyze models of (conditional) expected returns. Despite their widespread use, little is known of their econometric properties in contrast to...