Historically, non-financial data, including corporate governance, was not considered in mainstream equity valuation methodologies, analysis and investments. However, past as well as recent corporate scandals have led to a rising acknowledgement within the investor community that governance factors may have the potential to affect corporate performance and by extension corporate valuation. And a...

We examine the situation when the investor wants to outperform a certain benchmark by actively trading in this asset, typically a stock index. We consider an investor who wants to minimize the expected shortfall in the case he fails to achieve this goal. Using recently developed techniques of Föllmer and Leukert, we can relate this optimal investment problem to option hedging. This allows us to...

The research objective is to obtain empirical evidence of the negative influence investor sentiment on Jakarta Islamic Index stock return at beginning Covid-19. contributes finance literature and its supports agency theory, behaviour signaling theory. sample used 30 companies listed in for first semester 2020. final 180 observational data. Fourth classical assumption uses, result show passed al...

Business units are always faced with investment opportunities and need to make logical decisions on an optimal investment. Indeed, the investment of each business unit should be done with regard to the resource constraints and its effectiveness through the criteria for evaluating the projects including the net present value (NPV). The paper aims to investigate the effect of long-term debt on th...

We consider an investor in a financial market consisting of a riskless bond and several risky assets. The price processes of the risky assets are geometric Brownian motions where either the drifts are modelled as random variables assuming a constant volatility matrix or the volatility matrix is considered random and drifts are assumed to be constant. The investor is only able to observe the ass...

We consider a popular problem in finance, option pricing, through the lens of an online learning game between Nature and an Investor. In the Black-Scholes option pricing model from 1973, the Investor can continuously hedge the risk of an option by trading the underlying asset, assuming that the asset’s price fluctuates according to Geometric Brownian Motion (GBM). We consider a worst-case model...

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...

in state-investor dispute, investor tends that umbrella clause transfers all contractual claims to treaty claims. by contracts, state follows narrow interpretation of this clause. up to ilc articles, establishing of responsibility of state for breach of contract requires tow preconditions. first state is merely responsible when state condoct has been of governmental nature and second is that br...