I thank Karl Diether for research assistance. I thank Malcolm Baker, Gene Fama, Ken French, and Jeff Wurgler for supplying data. I thank Eugene Fama and seminar participants at the London School of Economics, New York University Stern School, and the University of Chicago for helpful comments. I gratefully acknowledge support from the Alfred P. Sloan Foundation, the Center for Research in Secur...

In this article the structure of subjective well-being (SWB), the relationship between household income and SWB and mean differences in components of SWB in China and the USA are investigated. Both China and the USA were characterized in a three-factor model of SWB (life satisfaction, positive affect and negative affect). Household income was more strongly positively correlated with the three m...

There is no way to predict whether the price of stocks and bonds will go up or down over the next few days or weeks. But it is quite possible to foresee the broad course of the prices of these assets over longer time periods, such as, the next three to five years. These findings, which may seem both surprising and contradictory, were made and analyzed by this year’s Laureates, Eugene Fama, Lars...

Analogy is an important cognitive process that has been researched extensively. Functional accounts of it typically involve at least four stages of processing (access, mapping, transfer, and evaluation, e.g., see Kokinov & French, 2002), however, they take the way in which the base analog is understood, along with its relational structure, for granted. The goal of this paper is to open a discus...

The main objective of this paper is to discuss alternative methods for testing the Fama-French (FF) three-factor asset pricing model. The properties of the selected methods are compared through a simulation study. The main stress is put on the behaviour of the selected methods for small samples. The parameters used in the simulation study are obtained on the basis of real data coming from the P...

A commonly used approach in long-run event-studies is the calendar time portfolio (CTP) approach developed by Jaffe (1974) and Mandelker (1974) and advocated by Fama (1998). For each calendar month we compute the return of an equally-weighted portfolio of companies that unionized in the last T months, where T is either 18 or 24 in our study. The return of this “unionization portfolio” is denote...

The main goal of this study was to analyze the psychometric properties of the Perception of Parents Scale (POPS) developed by Robbins (1994), with a sample of middle-adolescents with ages between 14 and 18 years. The confirmatory factor analysis was conducted to examine the reliability and validity of a three-dimension model of adolescents’ perception of mother and father based on perspective o...

Three studies using exploratory and confirmatory factor analyses provided consistent evidence for a three-factor model of the social dominance orientation (SDO) in Mainland China. Support for exclusionism, which was not found in previous research, emerged as an independent SDO factor (Studies 1, 2, and 3). In Study 2, this factor predicted SDO difference between a high status group (managers) a...