This paper deals with pension fund investment in urban infrastructure projects. It is suggested that the potential returns (and risks) with such projects are significantly greater than comparable fixed-income products though they have long gestation periods like gilt-edged securities. Our...

The over-reaction hypothesis suggests that if investors over-react then a contrarian strategy of buying losers and selling winners should earn significant abnormal returns. The results of the study show that there is an inverse relationship between size and observed returns in the Australian...

The inconclusive nature of the over-reaction hypothesis, combined with an inherent difficulty in isolating specific determinants, has meant that the controversy surrounding this model has been perpetuated within the financial economics literature. It is the objective of this study to examine...

Politicians who proclaim both their skepticism about global warming and their conservative religious credentials leave the impression that conservative Protestants may be more skeptical about scientists’ claims regarding global warming than others. The history of the relationship between...

Traditionally, financial risk management has mainly focused on the types of risk that can be identified and measured. Many actuarial and statistical theories and models have been developed in the past, to quantify such risks. However, high-profile events such as Black Monday, the Asian financial...

The academic literature on pension governance is sparse and this book will fill some important gaps by bringing together original contributions from around the world on subjects related to the area. The book initially lays out the main frameworks for pension fund governance and then goes on to...

The academic literature on pension governance is sparse and this book will fill some important gaps by bringing together original contributions from around the world on subjects related to the area. The book initially lays out the main frameworks for pension fund governance and then goes on to...

The purpose of this paper is to provide banking regulators with another tool to crosscheck the appropriateness and consistency of levels of capital adequacy for banks. The process begins by examining banking systems and focuses on market risks and the systemic risks associated with growing...

Recently we reported on an application of the Tsallis non-extensive statistics to the S&P500 stock index. There we argued that the statistics are applicable to a broad range of markets and exchanges where anamolous (super) diffusion and 'heavy' tails of the distribution are present, as they are...

The issues which confront governments concerning the choice between trade or protection are related to three distinct yet inter- connected policy problems, namely: international trade policy, national industrial development policy, and political platform policy. The theoretical economics...