The aim of this paper is to identify the key factors that lie behind venture capital/private equity fundraising in countries where there is scarce and asymmetric information about final returns. The main contribution of this paper is to explain fundraising by means of variables directly related...

Nyholm (2002, 2003) [J. of Financial Research, 25, pp. 485; J. of Applied Econometrics, 18, pp. 457] has proposed a new procedure to infer the probability of informed negotiation on a trade-to-trade basis through a regime-switching model. We provide further empirical evidence about the performance...

In this paper we provide a new approach to the Fundamental Theorem of As-set Pricing. The proofof this result is usually based on Projection (Separation) Theorems and is far more intuitive. Ourapproach follow the relation between the projection problem an equivalent least squares problem.More...

This paper deals with analysing and forecasting intradaily volatility in electricity spot prices. We analyse the hourly spot prices from the Argentine Electricity Market by grouping prices in three daily series (block bids). We estimate the VAR model for the conditional mean structure and...

Testing for unit roots in short-term interest rates plays a key role in the empirical modelling of these series. It is widely assumed that the volatility of interest rates follows some time-varying function which is dependent of the level of the series. This may cause distortions in the...