The financial market assumptions of the PBGC's PIMS model are critical inputs to simulations for most apparent uses of the system. They currently appear to be based on a reduced form, "classical" approach to assessing and forecasting the distribution of returns on various classes of input...

Using an earnings forecasting model has been shown to be useful and highly statistically significant in U.S. stock selection. We find that incorporation of ESG criteria can enhance stockholder returns holding risk constant under reasonable assumptions. The novel approach here uses a...