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Industry Specific Human Capital Idiosyncratic Risk And The Cross Section Of Expected Stock Returns
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Book Synopsis Management, Valuation, and Risk for Human Capital and Human Assets by : M. Russ
Download or read book Management, Valuation, and Risk for Human Capital and Human Assets written by M. Russ and published by Springer. This book was released on 2014-10-15 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Perspectives on Human Capital and Assets goes beyond the current literature by providing a platform for a broad scope of discussion regarding HC&A, and, more importantly, by encouraging a multidisciplinary fusion between diverse disciplines.
Book Synopsis Empirical Asset Pricing by : Turan G. Bali
Download or read book Empirical Asset Pricing written by Turan G. Bali and published by John Wiley & Sons. This book was released on 2016-02-26 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Bali, Engle, and Murray have produced a highly accessible introduction to the techniques and evidence of modern empirical asset pricing. This book should be read and absorbed by every serious student of the field, academic and professional.” Eugene Fama, Robert R. McCormick Distinguished Service Professor of Finance, University of Chicago and 2013 Nobel Laureate in Economic Sciences “The empirical analysis of the cross-section of stock returns is a monumental achievement of half a century of finance research. Both the established facts and the methods used to discover them have subtle complexities that can mislead casual observers and novice researchers. Bali, Engle, and Murray’s clear and careful guide to these issues provides a firm foundation for future discoveries.” John Campbell, Morton L. and Carole S. Olshan Professor of Economics, Harvard University “Bali, Engle, and Murray provide clear and accessible descriptions of many of the most important empirical techniques and results in asset pricing.” Kenneth R. French, Roth Family Distinguished Professor of Finance, Tuck School of Business, Dartmouth College “This exciting new book presents a thorough review of what we know about the cross-section of stock returns. Given its comprehensive nature, systematic approach, and easy-to-understand language, the book is a valuable resource for any introductory PhD class in empirical asset pricing.” Lubos Pastor, Charles P. McQuaid Professor of Finance, University of Chicago Empirical Asset Pricing: The Cross Section of Stock Returns is a comprehensive overview of the most important findings of empirical asset pricing research. The book begins with thorough expositions of the most prevalent econometric techniques with in-depth discussions of the implementation and interpretation of results illustrated through detailed examples. The second half of the book applies these techniques to demonstrate the most salient patterns observed in stock returns. The phenomena documented form the basis for a range of investment strategies as well as the foundations of contemporary empirical asset pricing research. Empirical Asset Pricing: The Cross Section of Stock Returns also includes: Discussions on the driving forces behind the patterns observed in the stock market An extensive set of results that serve as a reference for practitioners and academics alike Numerous references to both contemporary and foundational research articles Empirical Asset Pricing: The Cross Section of Stock Returns is an ideal textbook for graduate-level courses in asset pricing and portfolio management. The book is also an indispensable reference for researchers and practitioners in finance and economics. Turan G. Bali, PhD, is the Robert Parker Chair Professor of Finance in the McDonough School of Business at Georgetown University. The recipient of the 2014 Jack Treynor prize, he is the coauthor of Mathematical Methods for Finance: Tools for Asset and Risk Management, also published by Wiley. Robert F. Engle, PhD, is the Michael Armellino Professor of Finance in the Stern School of Business at New York University. He is the 2003 Nobel Laureate in Economic Sciences, Director of the New York University Stern Volatility Institute, and co-founding President of the Society for Financial Econometrics. Scott Murray, PhD, is an Assistant Professor in the Department of Finance in the J. Mack Robinson College of Business at Georgia State University. He is the recipient of the 2014 Jack Treynor prize.
Book Synopsis Essays in Honor of Peter C. B. Phillips by : Thomas B. Fomby
Download or read book Essays in Honor of Peter C. B. Phillips written by Thomas B. Fomby and published by Emerald Group Publishing. This book was released on 2014-11-21 with total page 772 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume honors Professor Peter C.B. Phillips' many contributions to the field of econometrics. The topics include non-stationary time series, panel models, financial econometrics, predictive tests, IV estimation and inference, difference-in-difference regressions, stochastic dominance techniques, and information matrix testing.
Book Synopsis Heterogeneity and Persistence in Returns to Wealth by : Andreas Fagereng
Download or read book Heterogeneity and Persistence in Returns to Wealth written by Andreas Fagereng and published by International Monetary Fund. This book was released on 2018-07-27 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: We provide a systematic analysis of the properties of individual returns to wealth using twelve years of population data from Norway’s administrative tax records. We document a number of novel results. First, during our sample period individuals earn markedly different average returns on their financial assets (a standard deviation of 14%) and on their net worth (a standard deviation of 8%). Second, heterogeneity in returns does not arise merely from differences in the allocation of wealth between safe and risky assets: returns are heterogeneous even within asset classes. Third, returns are positively correlated with wealth: moving from the 10th to the 90th percentile of the financial wealth distribution increases the return by 3 percentage points - and by 17 percentage points when the same exercise is performed for the return to net worth. Fourth, wealth returns exhibit substantial persistence over time. We argue that while this persistence partly reflects stable differences in risk exposure and assets scale, it also reflects persistent heterogeneity in sophistication and financial information, as well as entrepreneurial talent. Finally, wealth returns are (mildly) correlated across generations. We discuss the implications of these findings for several strands of the wealth inequality debate.
Book Synopsis Quantitative Multidisciplinary Approaches in Human Capital and Asset Management by : Russ, Meir
Download or read book Quantitative Multidisciplinary Approaches in Human Capital and Asset Management written by Russ, Meir and published by IGI Global. This book was released on 2015-11-05 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the ‘knowledge economy’, it is widely recognized that the effective engagement and utilization of human capital and the other facets of intellectual capital are critical, if not the only means, to organizations’ short-term success and long-term survival. Quantitative Multidisciplinary Approaches in Human Capital and Asset Management provides robust scientific research and multidisciplinary perspectives on the theory behind the governance of human capital and human assets. Focusing on insight from the diverse fields of economics, finance, accounting, IT, biology, and development, this timely publication is designed to fit the research needs of researchers, practitioners, graduate-level students, and executives seeking methods for managing intellectual capital in the new knowledge economy.
Book Synopsis Financial Markets and the Real Economy by : John H. Cochrane
Download or read book Financial Markets and the Real Economy written by John H. Cochrane and published by Now Publishers Inc. This book was released on 2005 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Markets and the Real Economy reviews the current academic literature on the macroeconomics of finance.
Book Synopsis Empirical Asset Pricing by : Wayne Ferson
Download or read book Empirical Asset Pricing written by Wayne Ferson and published by MIT Press. This book was released on 2019-03-12 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introduction to the theory and methods of empirical asset pricing, integrating classical foundations with recent developments. This book offers a comprehensive advanced introduction to asset pricing, the study of models for the prices and returns of various securities. The focus is empirical, emphasizing how the models relate to the data. The book offers a uniquely integrated treatment, combining classical foundations with more recent developments in the literature and relating some of the material to applications in investment management. It covers the theory of empirical asset pricing, the main empirical methods, and a range of applied topics. The book introduces the theory of empirical asset pricing through three main paradigms: mean variance analysis, stochastic discount factors, and beta pricing models. It describes empirical methods, beginning with the generalized method of moments (GMM) and viewing other methods as special cases of GMM; offers a comprehensive review of fund performance evaluation; and presents selected applied topics, including a substantial chapter on predictability in asset markets that covers predicting the level of returns, volatility and higher moments, and predicting cross-sectional differences in returns. Other chapters cover production-based asset pricing, long-run risk models, the Campbell-Shiller approximation, the debate on covariance versus characteristics, and the relation of volatility to the cross-section of stock returns. An extensive reference section captures the current state of the field. The book is intended for use by graduate students in finance and economics; it can also serve as a reference for professionals.
Book Synopsis International Perspectives on Socio-Economic Development in the Era of Globalization by : Sen, Saurabh
Download or read book International Perspectives on Socio-Economic Development in the Era of Globalization written by Sen, Saurabh and published by IGI Global. This book was released on 2016-03-08 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today’s world, globalization bears intense interdependencies between countries, and the impact global business transactions have on society and economics is more palpable than ever. Despite this, many developing countries in the global market find themselves struggling to support perpetual population growth. These countries must find ways to attain sustainable development in the economic, social, and environmental sectors. International Perspectives on Socio-Economic Development in the Era of Globalization seeks to examine the existing variability of development in the global marketplace and to identify the catalysts responsible for this disparity of success. This title analyzes the economic frontiers, social norms, and infrastructural capabilities that factor into the socio-economic growth of the developing and under-developed world. This book will become a definitive text for policy makers, academics, students, and business executives.
Book Synopsis Job Creation and Destruction by : Steven J. Davis
Download or read book Job Creation and Destruction written by Steven J. Davis and published by MIT Press (MA). This book was released on 1996 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume considers the American manufacturing industry, and develops a statistical portait of the microeconomic adjustments that affect business and workers. The authors focus on the employer rather than worker side of the process aiming to show the processes that will be relevant to economists.
Download or read book Asset Management written by Andrew Ang and published by Oxford University Press, USA. This book was released on 2014 with total page 717 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stocks and bonds? Real estate? Hedge funds? Private equity? If you think those are the things to focus on in building an investment portfolio, Andrew Ang has accumulated a body of research that will prove otherwise. In this book, Ang upends the conventional wisdom about asset allocation by showing that what matters aren't asset class labels but the bundles of overlapping risks they represent.
Book Synopsis Handbook on the Temporal Dynamics of Organizational Behavior by : Yannick Griep
Download or read book Handbook on the Temporal Dynamics of Organizational Behavior written by Yannick Griep and published by Edward Elgar Publishing. This book was released on 2020-05-29 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook on the Temporal Dynamics of Organizational Behavior is designed to help scholars begin to address the temporal shortcomings in the extant organizational behavior literature. The handbook provides conceptual and methodological reasons to study organizational behavior from a dynamic perspective and offers new conceptual and theoretical insights on some of the most popular organizational behavior topics. Unlike many other handbooks, this one provides methodological and analytical tools, including syntax and example data files, to help researchers tackle dynamic research questions effectively.
Author :Management Association, Information Resources Publisher :IGI Global ISBN 13 :1522501975 Total Pages :2453 pages Book Rating :4.5/5 (225 download)
Book Synopsis Project Management: Concepts, Methodologies, Tools, and Applications by : Management Association, Information Resources
Download or read book Project Management: Concepts, Methodologies, Tools, and Applications written by Management Association, Information Resources and published by IGI Global. This book was released on 2016-06-09 with total page 2453 pages. Available in PDF, EPUB and Kindle. Book excerpt: Organizations of all types are consistently working on new initiatives, product lines, or implementation of new workflows as a way to remain competitive in the modern business environment. No matter the type of project at hand, employing the best methods for effective execution and timely completion of the task at hand is essential to project success. Project Management: Concepts, Methodologies, Tools, and Applications presents the latest research and practical solutions for managing every stage of the project lifecycle. Emphasizing emerging concepts, real-world examples, and authoritative research on managing project workflows and measuring project success in both private and public sectors, this multi-volume reference work is a critical addition to academic, government, and corporate libraries. It is designed for use by project coordinators and managers, business executives, researchers, and graduate-level students interested in putting research-based solutions into practice for effective project management.
Book Synopsis Measuring Capital in the New Economy by : Carol Corrado
Download or read book Measuring Capital in the New Economy written by Carol Corrado and published by University of Chicago Press. This book was released on 2009-02-15 with total page 602 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the accelerated technological advances of the past two decades continue to reshape the United States' economy, intangible assets and high-technology investments are taking larger roles. These developments have raised a number of concerns, such as: how do we measure intangible assets? Are we accurately appraising newer, high-technology capital? The answers to these questions have broad implications for the assessment of the economy's growth over the long term, for the pace of technological advancement in the economy, and for estimates of the nation's wealth. In Measuring Capital in the New Economy, Carol Corrado, John Haltiwanger, Daniel Sichel, and a host of distinguished collaborators offer new approaches for measuring capital in an economy that is increasingly dominated by high-technology capital and intangible assets. As the contributors show, high-tech capital and intangible assets affect the economy in ways that are notoriously difficult to appraise. In this detailed and thorough analysis of the problem and its solutions, the contributors study the nature of these relationships and provide guidance as to what factors should be included in calculations of different types of capital for economists, policymakers, and the financial and accounting communities alike.
Book Synopsis Computational Methods for the Study of Dynamic Economies by : Ramon Marimon
Download or read book Computational Methods for the Study of Dynamic Economies written by Ramon Marimon and published by OUP Oxford. This book was released on 1999-03-04 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomics increasingly uses stochastic dynamic general equilibrium models to understand theoretical and policy issues. Unless very strong assumptions are made, understanding the properties of particular models requires solving the model using a computer. This volume brings together leading contributors in the field who explain in detail how to implement the computational techniques needed to solve dynamic economics models. A broad spread of techniques are covered, and their application in a wide range of subjects discussed. The book provides the basics of a toolkit which researchers and graduate students can use to solve and analyse their own theoretical models.
Book Synopsis Uncertainty and Unemployment by : Sangyup Choi
Download or read book Uncertainty and Unemployment written by Sangyup Choi and published by International Monetary Fund. This book was released on 2015-02-23 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and sectoral channels. Using S&P500 data from the first quarter of 1957 to third quarter of 2014, we construct separate indices to measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic vector autoregressive (VAR) model. We find that aggregate uncertainty leads to an immediate increase in unemployment, with the impact dissipating within a year. In contrast, sectoral uncertainty has a long-lived impact on unemployment, with the peak impact occurring after two years. The results are consistent with a view that the impact of aggregate uncertainty occurs through a “wait-and-see” mechanism while increased sectoral uncertainty raises unemployment by requiring greater reallocation across sectors.
Author :Paul Gomme Publisher :London : Department of Economics, University of Western Ontario ISBN 13 : Total Pages :52 pages Book Rating :4.:/5 (318 download)
Book Synopsis On the Cyclical Allocation of Risk by : Paul Gomme
Download or read book On the Cyclical Allocation of Risk written by Paul Gomme and published by London : Department of Economics, University of Western Ontario. This book was released on 1992 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Handbook of Equity Market Anomalies by : Leonard Zacks
Download or read book The Handbook of Equity Market Anomalies written by Leonard Zacks and published by John Wiley & Sons. This book was released on 2011-08-24 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment pioneer Len Zacks presents the latest academic research on how to beat the market using equity anomalies The Handbook of Equity Market Anomalies organizes and summarizes research carried out by hundreds of finance and accounting professors over the last twenty years to identify and measure equity market inefficiencies and provides self-directed individual investors with a framework for incorporating the results of this research into their own investment processes. Edited by Len Zacks, CEO of Zacks Investment Research, and written by leading professors who have performed groundbreaking research on specific anomalies, this book succinctly summarizes the most important anomalies that savvy investors have used for decades to beat the market. Some of the anomalies addressed include the accrual anomaly, net stock anomalies, fundamental anomalies, estimate revisions, changes in and levels of broker recommendations, earnings-per-share surprises, insider trading, price momentum and technical analysis, value and size anomalies, and several seasonal anomalies. This reliable resource also provides insights on how to best use the various anomalies in both market neutral and in long investor portfolios. A treasure trove of investment research and wisdom, the book will save you literally thousands of hours by distilling the essence of twenty years of academic research into eleven clear chapters and providing the framework and conviction to develop market-beating strategies. Strips the academic jargon from the research and highlights the actual returns generated by the anomalies, and documented in the academic literature Provides a theoretical framework within which to understand the concepts of risk adjusted returns and market inefficiencies Anomalies are selected by Len Zacks, a pioneer in the field of investing As the founder of Zacks Investment Research, Len Zacks pioneered the concept of the earnings-per-share surprise in 1982 and developed the Zacks Rank, one of the first anomaly-based stock selection tools. Today, his firm manages U.S. equities for individual and institutional investors and provides investment software and investment data to all types of investors. Now, with his new book, he shows you what it takes to build a quant process to outperform an index based on academically documented market inefficiencies and anomalies.
