The recent turbulent performance of the new economy stocks against the backdrop of a
chugging old economy has given new life to the common practice of opposing growth and value …

This article provides a comprehensive review of the literature on emerging market debt
securities. Compared to the developed world, this segment of the bond market is less established…

With scientific evidence regarding the contribution of carbon emissions to global warming
mounting, pressure is building for corrective policy actions. The potential for such policies …

Mean–variance efficient portfolios are optimal as modern portfolio theory alleges, only if risk
were foreseeable, which is under the hypothesis that price (co)variance is known with …

Driven by a growing awareness about climate risk, sparked by milestone events such as the
Paris Climate Agreement in 2015, alongside societal issues—think of gross inequalities …

It is common practice among investors to assess the risks of a fixed-income investment by
looking at certain bond characteristics—and at two in particular. The duration provides insight …

This article analyzes the role of awards as quality signals in the book industry. Drawing on a
novel dataset of book awards, it examines the level of consensus between expert juries (as …

The traditional methods of estimating investment risk based on the observed variation of
asset prices falter on sparsely traded assets owing to the lack of price quotes. The price …

For real assets such as private equity, infrastructure, and real estate, computing the time-variance
of trade prices is of limited interest because there is not much trading in these assets. …

The authors estimate the market liquidity of bonds by means of a factor model. They build
scores for an extended set of issues by associating reported bid-ask spreads directly to …