Several studies claimed that there is underinvestment in education. Judd (2000) combines Capital Asset Pricing Model (CAPM) techniques with the indivisibility of human capital to compare the return to four-year college graduation with assets of similar risk to find an excess of return to the college investment option. Heckman, Lochner, and Todd (2008) evaluate the internal rate of return of the...

portfolio theory assumes that investors accept risk. this means thatin the equal rate of return on the two assets, the assets were chosenthat have a lower risk level. modern portfolio theory is accepted byinvestors who believe that they are not cope with the market. sothey keep many different types of securities in order to access theoptimum efficiency rate that is close to the rate of return o...

s tock returns of companies listed on the stock exchange is one of the most important criteria in assessing the macroeconomic. this study investigates the effect of exchange rate volatility on the stock exchange returns of d8 countries. it takes monthly data during the period (2008:1-2015:6) constituting 90 observations. at first we used panel-garch model to estimate exchange rate volatility in...