Modern asset pricing theory generally assumes frictionless trading. Under this assumption, an investor would revise his portfolio holdings at every date on which he could trade. However, in models where an investor faces financial market frictions such as transactions costs, the portfolio is optimally rebalanced less frequently. This paper examines the portfolio trading problem for an investor ...

In this paper, we study the optimal portfolio selection problem of weakly informed traders in the sense of Baudoin [1]. Instead of considering only expected utility maximizers, we also take into consideration different preference paradigms. In particular, we analyze a representative agent who follows the tenets of cumulative prospect theory as developed by Kahneman and Tversky [15], together wi...

 Abstract 9025 Genomic profiling of circulating tumor DNA (ctDNA) from patients (pts) with advanced non-small cell lung cancer (NSCLC). Poster Board #351  Abstract 9064 Updated efficacy and safety of the j-alex study comparing alectinib (ALC) with crizotinib (CRZ) in ALK-inhibitor naïve ALK fusion positive non-small cell lung cancer (ALK+ NSCLC). Poster Board #390  Abstract 9092 Atezolizumab...

Impact of investor sentiments on mean variance trade off with respect to Pakistani market has been investigated in this paper. Composite index for Investor Sentiments for Karachi stock exchange is developed. The six measures incorporated in the composite investor sentiment index are closed end fund discount, KSE turnover, the number of IPOs, average first day returns of IPOs, equity share in ne...

Building on Schnitzer (1998), this paper develops a model of strategic interaction between a foreign direct investor, a host country, and the investor’s country. By including the investor country we are able to consider the impact of political retaliation on the likelihood of expropriation. The model confirms that expropriation is more likely for lower technology sectors and site-specific asset...

Corporations in most countries are run by controlling shareholders, who have substantially smaller cash flow rights than their control rights in the firm. This separation of ownership and control allows the controlling shareholders to pursue private benefits at the cost of outside minority investors by diverting resources away from the firm and distorting corporate investment and payout policie...

We exploit the restrictions of intertemporal portfolio choice in the presence of nonfinancial income risk to design and implement tests of hedging that use the information contained in the actual portfolio of the investor. We use a unique dataset of Swedish investors with information broken down at the investor level and into various components of wealth, investor income, tax positions and inve...

The development of the equity economy as a new business model, spread digital platforms, well task increasing efficiency resources, stimulated financial instruments, including crowdlending. At same time, lack sufficient accumulated experience, both in functioning and regulation crowdlending significantly limit their activities. purpose this study is to design substantiate mechanism confidence g...

This study examines the effect of corporate liquidity and investor protection on the relation between financial distress and equity returns using a European sample over the 2002-2016 period. The results show that returns are hump-shaped and decreasing for increasing default risk. This can be rationalized by corporate liquidity indicating that higher cash holdings decrease liquidity risk. Moreov...

Managements (“insiders”) of many corporations, especially small or newly-public firms, invest considerable resources in investor relations. We develop a model to explore the incentives of insiders to undertake such costly investments. We point out that insiders may undertake such investments not necessarily to improve the share price, but to enhance the liquidity of their block of shares. This ...