The present research shows the influence of institutional differences on the performance of initial public offerings (IPOs), both at the level of initial underpricing and at the level of 1-, 3- and 5-year performance. Our results represent a relevant empirical contribution to the international...

In this paper a beta-component mixture is proposed to model the market-implied severity. Recovery rates are extracted and identified from credit default swaps instead of using defaulted bonds instead using defaulted bonds because it allows us to identify recovery rates of low probability of...

The consequences that educational underperforming has on both individuals and the society as a whole lead policy makers and planners to focus on how to measure properly the extent of educational poverty. The main aim of this paper is to propose a multidimensional adjusted poverty index (α-MAPI)...

Global trade volumes and globalization hitting records every year imply growth of commercial operations among more companies each time and inevitable dealing with exchange rate risk. As an established practice, some enterprises make payments in a timeframe agreed to in a commercial contract....

Spanish Abstract: En el presente trabajo se valora una opción call estándar y una opción call asiática promedio aritmético europea estrike fijo, asumiendo que el movimiento Browniano se ajusta a una distribución logística. Los resultados obtenidos se comparan con los obtenidos cuando se...

Spanish Abstract: En el presente trabajo se valora una opción call estándar y una opción call asiática promedio aritmético europea estrike fijo, usando por primera vez el método numérico estocástico de Taylor 1.5. Los resultados obtenidos se comparan con los métodos numéricos...