Evidence from the behavioral sciences, notably economics and psychology, has profoundly changed the way policymakers and practitioners present expert advice to consumers. This chapter examines the behavioral science evidence on financial advice and explores its implications for the financial...

The investment management industry is undergoing tremendous change. Indexing and ESG (Environmental, Social, Governance) are reshaping investor portfolios, whereas digitisation is impacting the industry’s entire value chain.These developments represent a golden opportunity for asset owners to...

This study uncovers the ignored role of institutional environment for marketing strategy and customer relationship management. Hypothesis tests in a sample of Chinese firms find support that channel networking strengthens the customer orientation - customer trust/commitment - firm performance...

While the direct influence of CEO tenure on firm performance has been examined in the strategy literature, the underlying channels of influence have remained largely unexplored. This paper draws upon the career seasons paradigm, learning perspectives, and marketing literature to examine whether...

Imagining a world devoid of telecommunication technology today would undoubtedly look insipid and dreary. Telecommunication has become an integral part of societal infrastructure. As the penetration and usage of internet access to people across the globe is increasing from 400 million (in the...

This paper examines customer momentum, defined as a positive relationship between a firm's returns and past returns of its customers. I confirm previous evidence (Cohen and Frazzini 2008) that customer momentum is both statistically and economically significant. Long-short equally-weighted...

The companies active in the insurance industry market play the role of a supportive collection for the economy and the various industries of the country in line with the main tasks and missions expected from the insurance industry. The nature of the insurance companies requires them to move in...

We discuss when and why custom multi-factor risk models are warranted and give source code for computing some risk factors. Pension/mutual funds do not require customization but standardization. However, using standardized risk models in quant trading with much shorter holding horizons is...

We investigate the cross-sectional pattern of stock returns for eight emerging markets using Vector Autoregressive Approach (VAR) to test whether dividend yields can predict stock returns through impulse response characteristics. Our results confirm that dividend yield shocks play an important...

Empirical studies have found that during bad times return predictability is higher. Thus, variation in discount rate news should be relatively higher as economic conditions worsen. We propose a parsimonious model for expected returns that captures the countercyclical dynamics of stock return...