Spanish Abstract: La Prima de Riesgo del Mercado es uno de los parámetros financieros más investigados y controvertidos, y también uno de los que más con
This is a course material from the book Investment Decision Making. For Firm and Project Valuation. The book is originally in Spanish and is untitled as Decisio
The main objective of this paper is to propose a definition of financial stability that has some practical and operational relevance. Financial stability is def
How can behavioural finance inform the investment process? We have taken a hypothetical ’typical’ large fund management house and analysed their process. This c
Consumer behaviour from the marketing world and financial economics has brought together to the surface an exciting area for study and research: behavioural fin
We present a theory of excess stock market volatility, in which market movements are due to trades by very large institutional investors in relatively illiquid
This paper reviews a broad range of micro-, macroeconomic and development economics literature on the impact of gender equality on economic development and grow
Regulatory concerns about the impact of structured claims on financial stability in times of stress are frequently too sweeping and indistinct for a judicious a
Stock and option compensation and the level of managerial equity incentives are aspects of corporate governance that are especially controversial to shareholder
The focus of comparative corporate governance scholarship is shifting from takeovers to controlling shareholders in recognition of the fact that public corporat
Gompers et al. [“Gompers, P., Ishii, J., Metrick, A., 2003. Corporate governance and equity prices. Quarterly Journal of Economics 118, 107-155”] created G-Index,
We test and confirm the hypothesis that individual investors are net buyers of attention-grabbing stocks, e.g., stocks in the news, stocks experiencing high abn
Modern Finance has dominated the area of financial economics for at least four decades. Based on a set of strong but highly unrealistic assumptions its advocate
The battle between proponents of the Efficient Markets Hypothesis and champions of behavioral finance has never been more pitched, and there is little consensus
A trillion-dollar industry is based on investing in or benchmarking to capitalization-weighted indexes, even though the finance literature rejects the mean-vari
This paper analyzes securitization and more generally special purpose vehicles (SPVs), which are now pervasive in corporate finance. The first part of the paper
We report strong OLS and instrumental variable evidence that an overall corporate governance index is an important and likely causal factor in explaining
While recent high-profile corporate governance failures in developed countries have brought the subject to media attention, the issue has always been central to
We provide a research ranking of academic finance departments that incorporates both a quantitative and qualitative dimension in its methodology. Based on the
We study the stock market reaction to aggregate earnings news. Previous research shows that, for individual firms, stock prices react positively to earnings ne