In this paper we develop a new semi-parametric model for conditional correlations, which combines parametric univariate GARCH-type specifications for the individual conditional volatilities with nonparametric kernel regression for the conditional correlations. This approach not only avoids the...

This paper develops a return forecasting methodology that allows for instability in the relationship between stock returns and predictor variables, for model uncertainty, and for parameter estimation uncertainty. The predictive regression specification that is put forward allows for occasional...

An interlock between two firms occurs if the firms share one or more directors in their boards of directors. We explore the effect of interlocks on firm performance for 101 large Dutch firms using a large and new panel database. We use five different performance measures, and for each...

GARCH models and Stochastic Volatility (SV) models can both be used to describe unobserved volatility in asset returns. We consider the issue of testing a GARCH model against an SV model. For that purpose, we propose a new and parsimonious GARCH-t model with an additional restricted moving...

<title>Abstract</title> This article presents a comprehensive review of the maritime safety regimes and provides recommendations on how to improve the system. The results show a complex legal framework which generates a high amount of inspections and overlapping of inspection areas where no cross‐recognition...

This article develops a method to measure the effect of the major international conventions in the area of safety, pollution, search and rescue and work related measures. It further distinguishes between the effect of entry into force and the status of ratification of a convention by its...

This article provides a refined technique to measure and interpret variables associated with the quality of an inspection--be it port state control or vetting inspections towards the probability of a very serious, serious or less serious casualty. It concentrates on filtering out the effect of...

This article is based on 183,819 port state control inspections from various port state control regimes and casualties from three different data sources for a time period of 6 years. It is the first time an analysis on a combined dataset of this magnitude has been performed. Binary logistic...

This article is based on 183 819 port state control inspections from various port state control regimes for the time frame 1999 to 2004. Using binary logistic regression, we establish the differences of port state control inspections across several regimes, even though theory predicts there...