Prior work variously ascribes the forward puzzle the low slope in the Fama (1984) regression of the exchange rate change on the forward premium to various model misspecifications or statistical problems with non-stationary forward premia, but no single theory fully succeeds in explaining the...

The forward puzzle is traditionally explained as the presence of a covariance-risk premium (Bansal, 1997), market friction (Huisman et al, 1998) or limits to arbitrage (Sarno et al, 2006). More recently, Liu and Sercu (2007) present evidence consistent with career-risk or fallen-angel...

Adherents of Fundamental Indexing (FI) suggest that it is more protable to base portfolio weights on indirectly size-related indicators like accounting data rather than directly on market caps. In noisy markets a la Roll (1984), it is argued, underpriced stocks overperform but are underweighted...

The proposition that the technology of the Internet and Web offers a basis for culturally-neutral, computer-mediated communication was tested through a content analysis of 100 Mainland Chinese and American websites. It was found that the tools of the Internet and Web were neither fully neutral...

Gold nanoparticles were synthesized with seed mediated wet growth method. A coexistent system with gold nanorods and nanospheres was prepared. In-situ real-time small angle X-ray scattering (SAXS) and ultraviolet-visible (UV-vis) absorption were used to monitor the growth process of Au...

Ba<Subscript>0.1</Subscript>Sr<Subscript>0.9</Subscript>TiO<Subscript>3</S ubscript>-BaTi<Subscript>4</Subscript>O<Subscript>9</Subscript> composite thin films with different BaTi<Subscript>4</Subscript>O<Subscript>9</Subscript> concentrations were deposited on (100) LaAlO<Subscript>3</Subscript> (LAO) single crystal substrates via a pulsed laser deposition (PLD) using a combined target configuration of Ba<Subscript>0.1</Subscript>Sr<Subscript>0.9</Subscript>TiO<Subscript>3</S ubscript> and BaTi<Subscript>4</Subscript>O<Subscript>9</Subscript> ceramics. The Ba<Subscript>0.1</Subscript>Sr<Subscript>0.9</Subscript>TiO<Subscript>3</S ubscript>-BaTi<Subscript>4</Subscript>O<Subscript>9</Subscript> thin films...</subscript></subscript><//s></subscript></subscript></subscript></subscript></subscript><//s></subscript></subscript></subscript></subscript></subscript></subscript></subscript></subscript><//s></subscript></subscript></subscript>

This paper presents the total least squares quasi-Monte Carlo approach (TLSQM) for valuing American barrier options, which modifies the least-squares Monte Carlo method (LSM). The total least squares are applied to estimate the conditional expected payoff to the option holder from continuation,...

Considering the feasibility in China¡¯s market and adopting existing pricing models on financial guaranty products and credit derivatives, a pricing model on financial guaranty products is built under the actuarial methodology. In the model, the geometric Brownian motion with correlation is...

As the use of languages is playing a more and more important role in economic activities with the globalization of the world economy, there is growing interest in the relationship between language and economic theory. The rapidly expanding literature in this field, however, is highly fragmented....