This research represents the union of two main studies: the first one focused on the analysis of the CAPE Ratio, also known as the Cyclically Adjusted Price-Earnings ratio, a valuation measure introduced by the Nobel Prize Robert Shiller, and the second one focused on the predictability of the...

High volatility, no predictable cash flows and technological uncertainties make Biotech-Healthcare companies’ valuation a challenging task for analysts and investors. Translating clinical promises into economic value represents a rough obstacle of this attractive business, especially in...

With our work we want to exploit the so called "Beta anomaly" regarding the risk-reward relationship. Starting from the some evidences that so called Low Beta strategies generate, we decompose the formula in principal factors in order to asses the different drivers and contributions. Identifying...

The Discounted Cash Flow (DCF) model allows to obtain the fair value of a stock as the present value of the expected cash flows the company will generate in the future. The article aims to provide an approximation of the model in continuous time, arising from the arguments that we are...

This study investigates the relationship between founding family ownership and firm performance in the Italian stock market. Making use of a precise definition of Founding family ownership factor, an empirical analysis on the stock monthly returns has been carried out, from an investor's point...

Duration is an important parameter used by investors to choose between different investment opportunities in financial economics. While the concept of duration is usually associated with fixed-income assets, its expansion to the equity assets is becoming more relevant in the recent period, due...

In this paper we perform an empirical analysis on the VIX Index and we develop a series of portfolio strategies on implied volatility by using VIX Futures. First, we give a brief introduction to the VIX Index and what it represents. Then we focus on the VIX Futures, with an analysis of the VIX...

The aim of this work is to analyze the so-called "Low Risk Effect" and the evolution of the risk-reward relationship in time. Perhaps one of the milestones of the whole modern finance has been the investigation and the debate about the positive relationship between risk and reward in asset...

This study investigates the relationship between founding family ownership and firm performance in the Italian stock market. Making use of a precise definition of Founding family ownership factor, an empirical analysis on the stock monthly returns has been carried out, from an investor's point...