The equity premium of interest in theoretical models is the extra return investors anticipate when purchasing risky stock instead of risk-free debt. Unfortunately, we do not observe this ex ante premium in the data; we only observe the returns that investors actually receive ex post, after they...

In this paper, I study the behavior of an investor with unit risk aversion who maximizes a utility function defined over the mean and the variance of a portfolio's return. Conditioning information is accessible without cost and an unconditionally riskless asset is available in the market. ; The...

Purpose – The purpose of this paper is to determine how an index of agribusiness stocks performs relative to the S&P 500 particularly in times of recession. Design/methodology/approach – Using value-weighted indexes of agribusiness stocks, large cap US stocks, and copula estimation, the...

Purpose – This paper aims to investigate the relationships between several macro‐economic indicators and real estate investment in China. Design/methodology/approach – This study proposes the “investment preference theory” to explain that bank deposits, stock investment and real estate...