This paper analyzes the seven valuation methods for unlisted direct investment equity included in the recently adopted IMF Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6). Based on publicly available Danish data, we test the three methods that are generally...

This paper investigates the linkages between oil and growth in Congo, where there appears to be no evidence of direct spillover effects. The empirical results suggest however that political instability has a negative effect on non-oil growth, and that the presence of oil could have fueled...

Dummy variables can be used to detect, validate and measure the impact of outliers in data. This paper uses a model to evaluate the effectiveness of dummy variables in detecting outliers. While generally confirming some findings in the literature, the model refutes the presumption that the...

Dummy variables can be used to detect, validate and measure the impact of outliers in data. This paper uses a model to evaluate the effectiveness of dummy variables in detecting outliers. While generally confirming some findings in the literature, the model refutes the presumption that the...

According to efficient market hypothesis, investors perceive all available information in the same manner and it is not possible that any investor obtain more profit than others. Various anomalies in stock markets cause the failure of the efficient market hypothesis. Anomalies mean that the...