Research question- Is the failure of performance measurement systems (PMS) due to the crisis in itself or to a radical change in the paradigm that governs the world that has caused a loss of momentum? Motivation- In the era of recurrent/multiple crises, some researchers have signaled the...

Many studies have documented that daily realized volatility estimates based on intraday returns provide volatility forecasts that are superior to forecasts constructed from daily returns only. We investigate whether these forecasting improvements translate into economic value added. To do so we...