This paper proposes an approach to estimating the relation between risk (conditional variance) and expected returns in the aggregate stock market that allows us to escape some of the limitations of existing empirical analyses. First, we focus on a nonparametric volatility measure that is void of...

Purpose – Much of the literature on consumer empowerment focuses on consumers' efforts to regain control of their consumption processes from suppliers. The purpose is to argue that many suppliers achieve success by trying hard to empower consumers. The mechanism by which this takes place...

Purpose – The last ten years have seen a gradual withdrawal of retail facilities from many local areas and the consequent growth of “shopping deserts” resulting in social and health disbenefits. The purpose of this paper is to examine the potential for e-shopping to fill the vacuum and to...

Purpose – The purpose of this paper is to examine the purchase intentions of online retail consumers, segmented by their purchase orientation. Design/methodology/approach – An e-mail/web survey was addressed to a consumer panel concerning their online shopping experiences and motivations,...

E-marketing is rapidly growing in significance and is having a direct impact upon traditional marketing strategy and operations. It requires planning and innovation to make it work, implying organizational commitment and effective management, supported by technology, process and structure.Fully...

Since the much-hyped dot.com crash, treading the e-business path can be daunting. In these increasingly uncertain and cynical times, this useful text unpicks the challenges of e-Marketing for many types of business. It uses topical case studies and accompanying web material to provide an...

This paper studies the estimation of a semi-strong GARCH(1,1) model when it does not have a stationary solution, where semi-strong means that we do not require the errors to be independent over time. We establish necessary and sufficient conditions for a semi-strong GARCH(1,1) process to have a...

This paper develops a new estimation procedure for characteristic-based factor models of security returns. We treat the factor model as a weighted additive nonparametric regression model, with the factor returns serving as time-varying weights, and a set of univariate non-parametric functions...

We develop new tests of the capital asset pricing model which are valid under the assumption that the distribution generating returns is elliptically symmetric; this assumption is necessary and sufficient for the validity of the CAPM. Our test is based on semiparametric efficient estimation...

We develop inference tools in a semiparametric regression model with missing response data. A semiparametric regression imputation estimator, a marginal average estimator and a (marginal) propensity score weighted estimator are defined. All the estimators are proved to be asymptotically normal,...