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Galton's Error and the Under-Representation of Systematic Risk

LOS, CORNELIS A. - EconWPA - 2004

their relative systematic market risk, or 'betas,' to potential investors based on incomplete measurement by unidirectional … bivariate projections: they commit Galton's Error by under-representing their systematic risk. Consequently, far too many mutual … (18.9%) actually are. This under-representation of systematic risk leads to inefficiencies in the capital allocation …

Persistent link: https://www.econbiz.de/10005134709

Financiële stabiliteit: de rol van DNB

Haas, Ralph de; Vor, Marc de - EconWPA - 2002

DNB bewaakt de stabiliteit van ons financiële stelsel via het monetaire beleid, het toezicht en de zorg voor het betalingsverkeer. Deze gezamenlijke taakuitoefening biedt belangrijke voordelen.

Persistent link: https://www.econbiz.de/10005412465

The Basel Process and Financial Stability

Bieri, David S. - EconWPA - 2004

The Basel Process is a key element of the global financial system and as such plays an important role in co-ordinating the multilateral efforts of various committees, uniquely geared towards fostering and maintaining financial stability.

Persistent link: https://www.econbiz.de/10005561277

Does Financial Structure Matter?

Arestis, Philip; Luintel, Ambika D.; Luintel, Kul B. - EconWPA - 2004

We address the issue of whether financial structure influences economic growth. Three competing views of financial structure exist in the literature: the bank-based, the market-based and the financial services view. Recent empirical studies examine their relevance by utilizing panel and...

Persistent link: https://www.econbiz.de/10005561594

CIRCULAR VARIABLE WORK IN PROCESS

Vildosola, Luis - EconWPA - 2002

work in process inventory levels, under a particular risk allowance and a particular environmental scenario. This work …

Persistent link: https://www.econbiz.de/10005126234

Polish Pension Funds, Does The System Work? Cost, Efficiency and Performance MeasurementIssues

Stanko, Dariusz - EconWPA - 2003

allow for greater diversification and higher long-run risk to overcome the capacity problem of the local stock market. This …

Persistent link: https://www.econbiz.de/10005412460

Hedgefondsen: back to basics

Haas, Ralph de - EconWPA - 2002

In dit artikel wordt ingegaan op een aantal recente ontwikkelingen in de hedgefundsector.

Persistent link: https://www.econbiz.de/10005556629

INDIAN VENTURE CAPITALISTS (VCs) INVESTMENT EVALUATION CRITERIA

Mishra, Asim - EconWPA - 2005

The Venture capital (VC) industry in India is of recent origin. However, the average investment value of each deal in India have grown from $3.85 million in 2000 to $7.89 million in 2001.These developments together with the recent steps taken by government to promote venture capitalism in India...

Persistent link: https://www.econbiz.de/10005134795

How Widespread is Late Trading in Mutual Funds?

Zitzewitz, Eric - EconWPA - 2005

This paper uses daily fund flow data to examine the extent of late trading in the U.S. mutual fund industry. Trading decisions that are required by law to have been made before 4 PM Eastern Time are correlated with market movements from 4 to 9 PM that evening. The cross- sectional variation in...

Persistent link: https://www.econbiz.de/10005134805

Stock Price Volatility in a Multiple Security Overlapping Generations Model

Spiegel, Matthew - EconWPA - 1996

A number of empirical studies have reached the conclusion that stock price volatility cannot be fully explained within the standard dividend discount model. This paper proposes a resolution based upon a model that contains both a random supply of risky assets and finitely lived agents who trade...

Persistent link: https://www.econbiz.de/10005413185