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to STAR1). We then perform an unconditional and conditional portfolio performance evaluation. In both cases the evidence …-rating system ; CAPM ; conditional and unconditional portfolio performance evaluation … suggests that the better performance of the STAR3, STAR4 and STAR5 categories reflects superior stock selection rather than …
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We model EU countries' bank ratings using financial variables and allowing for intercept and slope heterogeneity. Our aim is to assess whether "old" and "new" EU countries are rated differently and to determine whether "new" ones are assigned lower ratings, ceteris paribus, than "old" ones. We...
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