One of the most common mistakes that investors make is that they move their money from one manager to another frequently, and often at the wrong times. There is a tendency to choose a money manager based on good performance in the last year or two. But then when the manager has a bad year, the investor takes his or her business elsewhere. The problem with this approach is that, in essence, the ...

Abstract In light of current climate change discussions, this paper analyzes the effect ownership structure on a firm’s environmental performance with subsequent focus corporate emission reduction. Based cross-national European sample consisting 7384 firm-year observations between 2008 and 2017, study explores relationship sustainable institutional investors performance. line prior research emb...

ABSTRACT This text analyzes Hacia (2019) as a critical choreographic device facing the problem of disenchantment world derived from separation between nature and culture inherited Modernity/coloniality. puts into practice two notions Amerindian perspectivism: one that recognizes relational agency all entities in world; another which raises knowledge process subjectivation implies bodily, sensor...

We examine the optimal consumption and portfolio choice of an investor having an initial wealth endowment and an uncertain stream of income from non-traded assets. The income stream is not spanned by traded assets, and the investor is not allowed to borrow against future income, so the nancial market is incomplete. We solve the corresponding stochastic control problem numerically with the Marko...

This paper analyzes a two-country model with an international investor considering acquisitions of already existing target firms in a high-tax country and a low-tax country. The investor is able to shift profits from one location to another for tax saving purposes. Two systems of corporate taxation are compared, a system with separate accounting and a system with tax base consolidation and form...

In this paper we examine the proposition that small investor sentiment, measured by the change in the discount/premium on closed-end funds, is an important factor in stock returns. We conduct an out-ofsample test of the investor sentiment hypothesis in a market environment that is more likely to be prone to investor sentiment than the U.S.. We fail to provide supporting evidence of the claim of...

We propose an empirical implementation of the consumption-investment problem using the martingale representation alternative to dynamic programming. Our method is based on the direct observation of state prices from options data. This greatly simpli…es the investor’s task of specifying the investment opportunity set and inherits the computational convenience of the martingale representation. Ou...