The Capital Asset Pricing Model (CAPM) assumes either that all asset returns are normally distributed or that investors have mean-variance preferences. Given empirical observations of asset returns, which document evidence of skewness and kurtosis, both assumptions are suspect. While several...

This paper examines market-timing strategies based on inflation in a sample of three stock market indices drawn from the Shanghai and the Shenzhen Stock Exchanges between February 2002 and May 2010. Specifically, this study investigates the effectiveness of market-timing activity and its...

While the strong influence of entrepreneurial competencies on business performance is recognised, despite some doubts about the teachability of these competencies, a fundamental question has remained unanswered: what are the key entrepreneurial competencies that need to be developed in an...