This paper piece sets out some of the main challenges and opportunities facing European manufacturing and the emerging models and public policy interventions which are being used to reshape local economies and to contribute to national growth. The paper sets out principles which the Italian...

We evaluate the probability that an estimated Sharpe ratio exceeds a given threshold in presence of non-Normal returns. We show that this new uncertainty-adjusted investment skill metric (called Probabilistic Sharpe ratio, or PSR) has a number of important applications: First, it allows us to...

At what loss should a portfolio manager be stopped-out? What is an acceptable time under water? We demonstrate that, under standard portfolio theory assumptions, the answer to the latter question is strikingly unequivocal: On average, the recovery spans three times the period involved in...

This book offers an appraisal of what governments are currently doing to regulate transnational corporations across the world, and highlights a marked contrast in the concern different countries have over transnationals' activities