Recent research has demonstrated the multidimensional nature of poverty and the multi-level organization of social-ecological systems that display poverty traps. The traps on these different levels can reinforce each other, and therefore multi-level traps pose particular challenges for poverty...

We review the past decade’s widespread application of resilience science in sustainable development practice and examine whether and how resilience is reshaping this practice to better engage in complex contexts. We analyse six shifts in practice: from capitals to capacities, from objects to...

We demonstrate that firm-specific momentum profits are predictable across a wide range of international equity markets when combining information given in a multitude of stock characteristics. This predictor is comparatively simple to compute and can yield significant positive out-of-sample...

We study whether growth in the capital share (KS) of aggregate income (GDP) can explain equity portfolio returns in international stock markets as proposed by Lettau et al. (2019) for the U.S. market. We find that growth in local capital share has positive explanatory power for equity portfolio...

In this Open-Access-book three essays on empirical asset pricing in international equity markets are presented. Despite being of fundamental economic and scientific importance, international financial markets have remained considerably underresearched until today. In the first essay, the role of...