Purpose – The purpose of this paper is to examine the impact of trades by informed traders and uninformed traders on the asymmetric volatility relation, a stylized fact that has long been puzzling financial economists. Avramov, Chordia, and Goyal's hypothesized that asymmetric volatility,...

Purpose – The purpose of this paper is to examine the impact of trades by informed traders and uninformed traders on the asymmetric volatility relation, a stylized fact that has long been puzzling financial economists. Avramov, Chordia, and Goyal's hypothesized that asymmetric volatility,...

Purpose – The purpose of this paper is to review the literature on liquidity in international stock markets, highlights differences and similarities in empirical results across existing studies, and identifies areas requiring further research. Design/methodology/approach – International...

Purpose – The home is a substantial investment for most individual investors but the assessment of risk and return of residential real estate has not been well explored yet. The existing real estate pricing literature using a CAPM-based model generally suggests very low risk and unexplained...

Purpose - To evaluate various hedge programs designed to minimize the risk of an extreme monthly gas bill subject to a pre-determined hedge program budget. Design/methodology/approach -Historical data were collected on natural gas spot and futures prices. Also, theoretical options prices were...

Purpose –This paper seeks to show optimal strategies for firms to cope with analysis and management of risks. Design/methodology/approach - Empirical and experimental studies on gender differences in risk analysis and risk management are reported and assessed. Findings - Women appear less...

Purpose – The purpose of this paper is to investigate the connection between the accrual quality and the growth/value characteristics (and their return premia) at firm level. Design/methodology/approach – The paper employs a battery of univariate and multivariate cross-sectional tests....

Purpose – Glode provides theoretical and empirical evidence that, in aggregate, funds underperform during economic expansions and outperform during contractions. The authors find that this result is not robust to the more appropriate conditional CAPM and to alternative methods for estimating...

Purpose - The purpose of this study is to demonstrate the use of weather derivatives to hedge firm exposure to previously unmanageable risk events caused by natural phenomenon such as excessive rainfall. Design/methodology/approach - The paper adopts a case study approach to meet the objectives...

Purpose – In June of 2001, Tokyo Electric Power Company (TEPCO) and Tokyo Gas Supply Company (TGSC) made a zero-cost risk swap contract on the average temperature of August and September of 2001 in Tokyo for their adverse situations. This is an exchange of two options on the average...