The use of GARCH models to characterize crude oil price volatility is widely observed in the empirical literature. In this paper the efficiency of six univariate GARCH models and two methods of estimation the parameters for forecasting oil price volatility are examined and the best method for forecasting crude oil price volatility of Brent market is determined. All the examined models in this p...

In this study we examine different methodologies to estimate earnings. More specifically, we evaluate the viability of Genetic Programming as both a forecasting model estimator and a forecastcombining methodology. When we compare the performance of traditional mechanical forecasting (ARIMA) models and models developed using Genetic Programming we observe that Genetic Programming can be used to ...

Explaining dividend policy has been one of the most difficult challenges facing financial economists. Despite decades of study, we have yet to completely understand the factors that influence dividend policy and the manner in which these factors interact.The aim of this paper is to examine the relation between dividend policy and share price volatility in Tehran Stock Exchange (TSE). The analys...

A promising approach to hedge against the inherent uncertainty of renewable generation is to equip the renewable plants with energy storage systems. This paper focuses on designing profit maximization offering strategies, i.e., the strategies that determine the offering price and volume, for a storage-assisted renewable power producer that participates in hour-ahead electricity market. Designin...

The purpose of this paper is to better understand how financial markets use depreciation information that appears in the financial statements . When computing depreciation expense, a firm has discretion in its choice of depreciation method and this choice can impact the amount of depreciation expense and therefore reported earnings. Ceteris paribus, we claim that a firm which reports a low depr...

Earnings are an important contributor to value, but a deal’s harm to the balance sheet can more than offset the value of increased earnings. Of course you want to see earnings per share increase, but not if your share price ultimately drops. If your company has access to cheap currency (a low cost of borrowing or a high stock price), it is easy to do an accretive deal. However, your cheap curre...