I estimate stochastic frontier models for agricultural productivity using factors that proxy for absolute risk aversion (e.g. loan amounts) and factors that proxy for relative risk aversion (loan pricing or interest rates). Empirical findings show absolute risk aversion ceases to matter for...

This study develops an empirical algorithm within which the incentive for signaling of private information in course of IPOs is implemented as a conditional, as opposed to an unconditional incentive. Suppose high quality issuers of IPOs signal private information, and suppose presence of cohorts...

The formal theoretical model in this study enables segmentation of countries with respect to three factors, namely, the extent to which income inequality is adopted as a policy variable; the extent to which there is focus on generation of either of `incremental', or `disruptive' innovations; and...

PurposeThis study examines whether the skewness of bid-ask spreads (bid-ask skewness), an information factor, can outperform the skewness of the exchange rate process (FX skewness) - a momentum variable - at forecasting future realizations of exchange rates.Design/Methodology/ApproachEmpirical...

Let IPO volume simply be denoted `volume'. This study finds low and high volume regimes within stock markets are, respectively characterized by low or high valuation uncertainty risk, with outcome underpricing is higher yet more disparate in context of high volume regimes. This finding questions...

With formal theoretical conditions as premise, this study develops a formal empirical structure which facilitates, simultaneously inferences in respect of each of rationality and efficiency of pricing of idiosyncratic risk. Using exactly the same data, the new empirical structure revolves around...