Research classified by Journal of Economic Literature (JEL) codes

2016

• Iñaki Aldasoro & Domenico Delli Gatti & Ester Faia, 2016, "Bank networks: contagion, systemic risk and prudential policy," BIS Working Papers, Bank for International Settlements, number 597, Dec.
• Rodrigo Lluberas, 2016, "Pension income indexation: a mean-variance approach," Documentos de trabajo, Banco Central del Uruguay, number 2016009.
• Alexandra Spicer & Olena Stavrunova & Susan Thorp, 2016, "How Portfolios Evolve after Retirement: Evidence from Australia," The Economic Record, The Economic Society of Australia, volume 92, issue 297, pages 241-267, June.
• Kees G. Koedijk & Alfred M.H. Slager & Philip A. Stork, 2016, "Investing in Systematic Factor Premiums," European Financial Management, European Financial Management Association, volume 22, issue 2, pages 193-234, March, DOI: 10.1111/eufm.12081.
• Filippo Brutti & Philip Sauré, 2016, "Repatriation Of Debt In The Euro Crisis," Journal of the European Economic Association, European Economic Association, volume 14, issue 1, pages 145-174, February.
• Daniel J. Benjamin & Matthew Rabin & Collin Raymond, 2016, "A Model Of Nonbelief In The Law Of Large Numbers," Journal of the European Economic Association, European Economic Association, volume 14, issue 2, pages 515-544, April.
• Jongha Lim & Berk A. Sensoy & Michael S. Weisbach, 2016, "Indirect Incentives of Hedge Fund Managers," Journal of Finance, American Finance Association, volume 71, issue 2, pages 871-918, April.
• Ralph S.J. Koijen & Stijn Nieuwerburgh & Motohiro Yogo, 2016, "Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice," Journal of Finance, American Finance Association, volume 71, issue 2, pages 957-1010, April.
• Veronika K. Pool & Clemens Sialm & Irina Stefanescu, 2016, "It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans," Journal of Finance, American Finance Association, volume 71, issue 4, pages 1779-1812, August.
• Harrison Hong & David A. Sraer, 2016, "Speculative Betas," Journal of Finance, American Finance Association, volume 71, issue 5, pages 2095-2144, October.
• Marianna Brunetti & Elena Giarda & Costanza Torricelli, 2016, "Is Financial Fragility a Matter of Illiquidity? An Appraisal for Italian Households," Review of Income and Wealth, International Association for Research in Income and Wealth, volume 62, issue 4, pages 628-649, December.
• Karen Braun-Munzinger & Zijun Liu & Arthur Turrell, 2016, "An agent-based model of dynamics in corporate bond trading," Bank of England working papers, Bank of England, number 592, Apr.
• Richard D F Harris & Evarist Stoja & Linzhi Tan, 2016, "The dynamic Black-Litterman approach to asset allocation," Bank of England working papers, Bank of England, number 596, Apr.
• Roger Farmer & Pawel Zabczyk, 2016, "The theory of unconventional monetary policy," Bank of England working papers, Bank of England, number 613, Sep.
• Arito Ono & Kosuke Aoki & Shinichi Nishioka & Kohei Shintani & Yosuke Yasui, 2016, "Long-term interest rates and bank loan supply: Evidence from firm-bank loan-level data," Bank of Japan Working Paper Series, Bank of Japan, number 16-E-2, Mar.
• Kosuke Aoki & Alexander Michaelides & Kalin Nikolov, 2016, "Household Portfolios in a Secular Stagnation World: Evidence from Japan," Bank of Japan Working Paper Series, Bank of Japan, number 16-E-4, Mar.
• Jaebeom Kim & Jung-Min Kim, 2016, "Stock Returns and Mutual Fund Flows in the Korean Financial Market: A System Approach," Working Papers, Economic Research Institute, Bank of Korea, number 2016-3, Mar.
• E. M. Cervellati & P. Pattitoni & M. Savioli, 2016, "Cognitive Biases and Entrepreneurial Under-Diversification," Working Papers, Dipartimento Scienze Economiche, Universita' di Bologna, number wp1076, Sep.
• Zia-ur-Rehman Rao & Amjad Iqbal & Muhammad Zubair Tauni, 2016, "Performance persistence in institutional investment management: The case of Chinese equity funds," Borsa Istanbul Review, Research and Business Development Department, Borsa Istanbul, volume 16, issue 3, pages 146-156, September.
• Davide Pettenuzzo & Konstantinos Metaxoglou & Aaron Smith, 2016, "Option-Implied Equity Premium Predictions via Entropic TiltinG," Working Papers, Brandeis University, Department of Economics and International Business School, number 99, Jan.
• Davide Pettenuzzo & Konstantinos Metaxoglou & Aaron Smith, 2016, "Option-Implied Equity Premium Predictions via Entropic TiltinG," Working Papers, Brandeis University, Department of Economics and International Business School, number 99R, Jan, revised Aug 2016.
• Ricardo Pereira Câmara Leal & Carlos Heitor Campani, 2016, "Valor-Coppead Indices, Equally Weighed and Minimum Variance Portfolios," Brazilian Review of Finance, Brazilian Society of Finance, volume 14, issue 1, pages 45-64.
• Gyorgy Varga & Ricardo Dias de Oliveira Brito, 2016, "The Cross-Section of Expected Stock Returns in Brazil," Brazilian Review of Finance, Brazilian Society of Finance, volume 14, issue 2, pages 151-187.
• Walter Gonçalves Junior & William Eid Junior, 2016, "Determinants of Foreign Investment in the Brazilian Stock Market," Brazilian Review of Finance, Brazilian Society of Finance, volume 14, issue 2, pages 189-224.
• Hudson Chaves Costa & João Henrique Gonçalves Mazzeu & Newton Carneiro Affonso da Costa Jr., 2016, "The Behaviour of Volatility Components of Brazilian Stocks," Brazilian Review of Finance, Brazilian Society of Finance, volume 14, issue 2, pages 225-268.
• João Nascimento Nerasti & Claudio Ribeiro Lucinda, 2016, "Persistence in Mutual Fund Performance in Brazil," Brazilian Review of Finance, Brazilian Society of Finance, volume 14, issue 2, pages 269-297.
• Denys Braga, 2016, "Správanie Štátneho Globálneho Dôchodkového Fondu Nórska, Lekcie Pre Súkromných Investorov," Almanach (Actual Issues in World Economics and Politics), Ekonomická univerzita, Fakulta medzinárodných vzťahov, volume 11, issue 2, pages 18-27.
• Bernhard Dachs, 2016, "Techno-Globalisierung als Motor des Aufholprozesses imösterreichischen Innovationssystem," EIIW Discussion paper, Universitätsbibliothek Wuppertal, University Library, number disbei222, Oct.
• Günter W. Beck & Hans-Helmut Kotz, 2016, "Les activités de shadow banking dans un contexte de bas taux d’intérêt : une perspective de flux financiers," Revue d'économie financière, Association d'économie financière, volume 0, issue 1, pages 235-256.
• Hafner, C. M. & Linton, O., 2016, "Estimation of a Multiplicative Covariance Structure in the Large Dimensional Case," Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge, number 1664, Nov.
• Chan, G. & Anadon, L-D., 2016, "Improving Decision Making for Public R&D Investment in Energy: Utilizing Expert Elicitation in Parametric Models," Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge, number 1682, Dec.
• Gonçalo Faria & Fabio Verona, 2016, "Forecasting stock market returns by summing the frequency-decomposed parts," Working Papers de Economia (Economics Working Papers), Católica Porto Business School, Universidade Católica Portuguesa, number 05, Oct.
• Gonçalo Faria & Fabio Verona, 2016, "Forecasting the equity risk premium with frequency-decomposed predictors," Working Papers de Economia (Economics Working Papers), Católica Porto Business School, Universidade Católica Portuguesa, number 06, Dec.
• Barattieri, Alessandro & Moretti, Laura & Quadrini, Vincenzo, 2016, "Banks Interconnectivity and Leverage," Research Technical Papers, Central Bank of Ireland, number 07/RT/16, Sep.
• Glenn Boyle & Gerald Ward, 2016, "Do Better Informed Investors Always Do Better?," Working Papers in Economics, University of Canterbury, Department of Economics and Finance, number 16/29, Nov.
• Elisa Luciano & Riccardo Giacomelli, 2016, "Equilibrium bid-ask spread and infrequent trade with outside options," Carlo Alberto Notebooks, Collegio Carlo Alberto, number 445.
• Elisa Luciano & Antonella Tolomeo, 2016, "Are information and portfolio diversification substitutes or complements?," Carlo Alberto Notebooks, Collegio Carlo Alberto, number 456.
• Alessandro Barattieri & Laura Moretti & Vincenzo Quadrini, 2016, "Banks Interconnectivity and Leverage," Carlo Alberto Notebooks, Collegio Carlo Alberto, number 466.
• Elisa Luciano & Antonella Tolomeo, 2016, "Equilibrium bid-ask spreads and the effect of competitive trading delays," Carlo Alberto Notebooks, Collegio Carlo Alberto, number 467.
• Elena Vigna, 2016, "On time consistency for mean-variance portfolio selection," Carlo Alberto Notebooks, Collegio Carlo Alberto, number 476.
• Wong, Woon K., 2016, "A GMM Skewness and Kurtosis Ratio Test for Higher Moment Dependence," Cardiff Economics Working Papers, Cardiff University, Cardiff Business School, Economics Section, number E2016/8, Aug.
• Jeremy Kronick & Alexandre Laurin, 2016, "The Bigger Picture: How the Fourth Pillar Impacts Retirement Preparedness," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 457, September.
• Thomas Michielsen & Remco Mocking & Sander van Veldhuizen, 2016, "Home Ownership and Household Portfolio Choice," CESifo Working Paper Series, CESifo, number 5705.
• Branko Uroševic & Ivana Rajkovic, 2016, "Dollarization of Deposits in the Short and Long Run: Evidence from CESE Countries," CESifo Working Paper Series, CESifo, number 5745.
• Laurie Davies & Walter Kraemer, 2016, "Stylized Facts and Simulating Long Range Financial Data," CESifo Working Paper Series, CESifo, number 5796.
• Martin G. Kocher & Konstantin E. Lucks & David Schindler, 2016, "Unleashing Animal Spirits - Self-Control and Overpricing in Experimental Asset Markets," CESifo Working Paper Series, CESifo, number 5812.
• Benjamin R. Auer & Benjamin Mögel, 2016, "How Accurate are Modern Value-at-Risk Estimators Derived from Extreme Value Theory?," CESifo Working Paper Series, CESifo, number 6288.
• Nadjeschda Katharina Arnold, 2016, "The Sovereign Default Problem in the Eurozone - Why Limited Liability Resulted in Excessive Debt Accumulation and How Insurance Can Counteract," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 66.
• Roger Farmer & Pawel Zabczyk, 2016, "The Theory of Unconventional Monetary Policy," Discussion Papers, Centre for Macroeconomics (CFM), number 1611, Mar.
• Paul Schneider, 2015, "An Anatomy of the Equity Premium," Swiss Finance Institute Research Paper Series, Swiss Finance Institute, number 15-61, Dec.
• Marc Gerritzen & Jens Carsten Jackwerth & Alberto Plazzi, 2016, "Birds of a Feather – Do Hedge Fund Managers Flock Together?," Swiss Finance Institute Research Paper Series, Swiss Finance Institute, number 16-10, Feb, revised Jul 2020.
• Florent Gallien & Serge Kassibrakis & Semyon Malamud & Filippo Passerini, 2016, "Managing Inventory with Proportional Transaction Costs," Swiss Finance Institute Research Paper Series, Swiss Finance Institute, number 16-48, Jun.
• Alberto Plazzi & Walter N. Torous, 2016, "Does Corporate Governance Matter? Evidence from the AGR Governance Rating," Swiss Finance Institute Research Paper Series, Swiss Finance Institute, number 16-54, Sep.
• Walter Farkas & Alexander Smirnow, 2016, "Intrinsic Risk Measures," Swiss Finance Institute Research Paper Series, Swiss Finance Institute, number 16-65, Oct.
• Peter Bank & Halil Mete Soner & Moritz Voss, 2016, "Hedging with Temporary Price Impact," Swiss Finance Institute Research Paper Series, Swiss Finance Institute, number 16-72, Mar.
• Johannes Muhle-Karbe & Max Reppen & Halil Mete Soner, 2016, "A Primer on Portfolio Choice with Small Transaction Costs," Swiss Finance Institute Research Paper Series, Swiss Finance Institute, number 16-74, Dec.
• Claude Montmarquette & Nathalie Viennot-Briot, 2016, "The Gamma Factor and the Value of Financial Advice," CIRANO Working Papers, CIRANO, number 2016s-35, Aug.
• Skander Ben Abdallah & Pierre Lasserre, 2016, "Asset Retirement with Infinitely Repeated Alternative Replacements: Harvest Age and Species Choice in Forestry," CIRANO Working Papers, CIRANO, number 2016s-37, Aug.
• Jim Engle-Warnick & Diego Pulido & Marine de Montaignac, 2016, "A Comparison of Survey and Incentivized-Based Risk Attitude Elicitation," CIRANO Working Papers, CIRANO, number 2016s-40, Aug.
• Jim Engle-Warnick & Diego Pulido & Marine de Montaignac, 2016, "Trust, ambiguity, and financial decision-making," CIRANO Working Papers, CIRANO, number 2016s-44, Aug.
• Ramiro Losada López, 2016, "Managerial ability, risk preferences and the incentives for active management," CNMV Working Papers, CNMV- Spanish Securities Markets Commission - Research and Statistics Department, number CNMV Working Papers no. 6.
• Jimmy Melo, 2016, "Precios de los activos bajo ambiguedad estructural: portafolios cautelosos, prudenciales y conservadores," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, volume 34, issue 80, pages 91-102, DOI: 10.1016/j.espe.2016.02.003.
• Laura Andrade-Pardo & Oscar Valencia-Arana & Diego V�squez-Escobar & Mauricio Villamizar-Villegas, 2016, "Uncovering the portfolio balance channel with the use of sovereign credit ratings," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, volume 34, issue 81, pages 191-205, DOI: 10.1016/j.espe.2016.08.003.
• Jimmy Saravia & Carlos Garcia & Paula Almonacid, 2016, "The Determinants of Systematic Risk: A Firm Lifecycle Perspective," Documentos de Trabajo de Valor Público, Universidad EAFIT, number 15299, Dec.
• Alfredo Trespalacios Carrasquilla & Juan Fernando Rend�n Garc�a & Javier Orlando Pantoja Robayo, 2016, "Efecto de Restricciones VaR sobre coberturas en mercados eléctricos," Revista de Economía del Rosario, Universidad del Rosario, volume 19, issue 2, pages 201-220.
• Uribe Gil Jorge Mario, 2016, "Regímenes de riesgo en el mercado de acciones colombiano," Revista Sociedad y Economía, Universidad del Valle, CIDSE, volume 0, issue 30, pages 11-404.
• Juan David Monsalve & Nicolas Arango Toro, 2016, "¿Crean valor los fondos de inversión colectiva colombianos enfocados en acciones?," Revista Ecos de Economía, Universidad EAFIT, volume 20, issue 42, pages 90-110.
• Julio César Riascos & Jesus Enrique Molina Munoz, 2016, "Breves consideraciones acerca de la importancia de los árboles de decisión en el análisis de carteras," Revista Tendencias, Universidad de Narino, volume 17, issue 1, pages 11-33, DOI: 10.22267/rtend.161701.11.
• Jason Nassios & James A. Giesecke & Peter B. Dixon & Maureen T. Rimmer, 2016, "A modelling framework for analysing the role of superannuation in Australia's financial system," Centre of Policy Studies/IMPACT Centre Working Papers, Victoria University, Centre of Policy Studies/IMPACT Centre, number g-266, Nov.
• HAFNER, Christian & LINTON, Oliver B. & TANG, Haihan, 2016, "Estimation of a Multiplicative Covariance Structure in the Large Dimensional Case," LIDAM Discussion Papers CORE, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE), number 2016044, Nov.
• Krzysztof Kompa & Dorota Witkowska, 2016, "Performance of pension funds and stable growth open investment funds during the changes in the Polish retirement system," Dynamic Econometric Models, Uniwersytet Mikolaja Kopernika, volume 16, pages 117-131.
• Michal Polasik & Dariusz Piotrowski, 2016, "Payment innovations in Poland: a new approach of the banking sector to introducing payment solutions," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, volume 15, issue 1, pages 103-131, March, DOI: 10.12775/EiP.2016.007.
• Mitman, Kurt, 2016, "Macroeconomic Effects of Bankruptcy and Foreclosure Policies," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11043, Jan.
• Guiso, Luigi & Pistaferri, Luigi & Fagereng, Andreas, 2016, "Back to background risk?," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11051, Jan.
• Dahlquist, Magnus & Vestman, Roine & Setty, Ofer, 2016, "On the Asset Allocation of a Default Pension Fund," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11052, Jan.
• Carrillo, Juan & Brocas, Isabelle & Giga, Aleksandar & Zapatero, Fernando, 2016, "Skewness Seeking in a Dynamic Portfolio Choice Experiment," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11056, Jan.
• Weber, Martin & Ungeheuer, Michael, 2016, "The Perception of Dependence and Investment Decisions," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11188, Mar.
• Farmer, Roger & Zabczyk, Pawel, 2016, "The Theory of Unconventional Monetary Policy," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11196, Mar.
• Laeven, Luc & Levine, Ross & Götz, Martin, 2016, "Does the Geographic Expansion of Banks Reduce Risk?," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11231, Apr.
• Balasubramaniam, Vimal & Anagol, Santosh, 2016, "Endowment Effects in the Field: Evidence from India's IPO Lotteries," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11328, Jun.
• Brunnermeier, Markus & Sannikov, Yuliy, 2016, "Macro, Money and Finance: A Continuous Time Approach," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11329, Jun.
• Hazan, Moshe & Weiss, David & Zoabi, Hosny, 2016, "Women's Liberation as a Financial Innovation," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11371, Jul.
• Brunnermeier, Markus & Sannikov, Yuliy, 2016, "The I Theory of Money," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11444, Aug.
• Massa, Massimo & Schumacher, David & wang, yan, 2016, "Who is afraid of BlackRock?," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11471, Aug.
• Quadrini, Vincenzo & Barattieri, Alessandro & Moretti, Laura, 2016, "Banks Interconnectivity and Leverage," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11502, Sep.
• Andersen, Steffen & Hanspal, Tobin & Nielsen, Kasper Meisner, 2016, "Once Bitten, Twice Shy: The Role of Inertia and Personal Experiences in Risk Taking," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11504, Sep.
• Hassan, Tarek & Mertens, Thomas M. & Zhang, Tony, 2016, "Currency Manipulation," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11581, Oct.
• Weber, Martin & Ungeheuer, Michael, 2016, "The Perception of Dependence, Investment Decisions, and Stock Prices," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11585, Oct.
• Guiso, Luigi & Pistaferri, Luigi & Fagereng, Andreas & Malacrino, Davide, 2016, "Heterogeneity and Persistence in Returns to Wealth," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11635, Nov.
• Tyran, Jean-Robert & Thomas, Thomas, 2016, "Money Illusion and Household Finance," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11643, Nov.
• Van Nieuwerburgh, Stijn & Vestman, Roine & von Lilienfeld-Toal , Ulf, 2016, "Identifying the Benefits from Home Ownership: A Swedish Experiment," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11656, Nov.
• Taylor, Mark & Boero, Gianna & Mandalinci, Zeyyad, 2016, "Modelling Portfolio Capital Flows in a Global Framework: Multilateral Implications of Capital Controls," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11689, Dec.
• Calvet, Laurent E. & Bach, Laurent, 2016, "Rich Pickings? Risk, Return, and Skill in the Portfolios of the Wealthy," CEPR Discussion Papers, C.E.P.R. Discussion Papers, number 11734, Dec.
• Riccardo Calcagno & Maela Giofré & Maria Cesira Urzì-Brancati, 2016, "To trust is good, but to control is better: how investors discipline financial advisors’ activity," CeRP Working Papers, Center for Research on Pensions and Welfare Policies, Turin (Italy), number 157, Mar.
• Balbás, Alejandro & Garrido, José & Okhrati, Ramin, 2016, "Good deal measurement in asset pricing: Actuarial and financial implications," IC3JM - Estudios = Working Papers, Instituto Mixto Carlos III - Juan March de Ciencias Sociales (IC3JM), number 23546, Sep.
• Balbás, Alejandro & Balbás, Beatriz & Balbás, Raquel, 2016, "VaR as the CVaR sensitivity : applications in risk optimization," IC3JM - Estudios = Working Papers, Instituto Mixto Carlos III - Juan March de Ciencias Sociales (IC3JM), number id-16-01, Feb.
• Mico Apostolov, 2016, "Effects of foreign direct investments. Evidence from Southeast Europe," Cuadernos de Economía - Spanish Journal of Economics and Finance, Asociación Cuadernos de Economía, volume 39, issue 110, pages 99-111, Mayo.
• Eymen Errais & Dhikra Bahri, 2016, "Is Standard Deviation a Good Measure of Volatility? the Case of African Markets with Price Limits," Annals of Economics and Finance, Society for AEF, volume 17, issue 1, pages 145-165, May.
• van Oordt, Maarten R. C. & Zhou, Chen, 2016, "Systematic Tail Risk," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 51, issue 2, pages 685-705, April.
• Guidolin, Massimo & Liu, Hening, 2016, "Ambiguity Aversion and Underdiversification," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 51, issue 4, pages 1297-1323, August.
• Bouri, Elie I. & Roubaud, David, 2016, "Fine Wines and Stocks from the Perspective of UK Investors: Hedge or Safe Haven?," Journal of Wine Economics, Cambridge University Press, volume 11, issue 2, pages 233-248, August.
• Le Fur, Eric & Ben Ameur, Hachmi & Faye, Benoit, 2016, "Time-Varying Risk Premiums in the Framework of Wine Investment," Journal of Wine Economics, Cambridge University Press, volume 11, issue 3, pages 355-378, December.
• Szüle, Borbála, 2016, "Solvency risk minimizing guaranteed returns in life insurance," Corvinus Economics Working Papers (CEWP), Corvinus University of Budapest, number 2016/02, Jan.
• Jaydip SEN & Tamal DATTA CHAUDHURI, 2016, "An Alternative Framework for Time Series Decomposition and Forecastingand its Relevance for Portfolio Choice A Comparative Study of the Indian Consumer Durable and Small Cap Sectors," Journal of Economics Library, EconSciences Journals, volume 3, issue 2, pages 303-326, June.
• Tai-Yuen HON, 2016, "The 11th Biennial Conference of Asian Consumer and Family Economics Association (ACFEA)," Journal of Economics Library, EconSciences Journals, volume 3, issue 3, pages 551-553, September.
• Severin ZEILBECK, 2016, "An Investment Initiative for Fiscally Constrained EU Member States – The Role of Synergetic Financial Instruments," Journal of Economics Bibliography, EconSciences Journals, volume 3, issue 3, pages 380-408, September.
• Florin Turcaş & Florin Dumiter & Alexandra Braica & Petre Brezeanu & Anca Opreţ, 2016, "Using Technical Analysis for Portfolio Selection and Post-Investment Analysis," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, volume 50, issue 1, pages 197-214.
• Vergil Voineagu & Simona Nicoleta Vasilache & Daniela Şerban & Silvia Elena Cristache & Liviu Stelian Begu, 2016, "An Analysis of the Romanian E-Commerce Trade Trends in European Perspective," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, volume 50, issue 1, pages 235-252.
• ShouHeng Tuo, 2016, "A Modified Harmony Search Algorithm For Portfolio Optimization Problems," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, volume 50, issue 1, pages 311-326.
• Иван Иванов, 2016, "Алтернативни Инвестиции В Зелена Енергия," Almanac of PhD Students, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, volume 11, issue 11 Year 2, pages 705-714.
• Pierre Chollet & Blaise W. Sandwidi, 2016, "L’impact sur les marchés financiers européens de la diffusion d’alertes sociétales et de leurs évènements déclencheurs," Revue Finance Contrôle Stratégie, revues.org, volume 19, issue 2, pages 59-82, June.
• Christine Annuß & Manuel Rupprecht, 2016, "Anlageverhalten privater Haushalte in Deutschland: die Rolle der realen Renditen," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, volume 85, issue 1, pages 95-109, DOI: 10.3790/vjh.85.1.95.
• Campbell, T. Colin & Chichernea, Doina C. & Petkevich, Alex, 2016, "Dissecting the bond profitability premium," Journal of Financial Markets, Elsevier, volume 27, issue C, pages 102-131, DOI: 10.1016/j.finmar.2015.11.002.
• Kaustia, Markku & Rantapuska, Elias, 2016, "Does mood affect trading behavior?," Journal of Financial Markets, Elsevier, volume 29, issue C, pages 1-26, DOI: 10.1016/j.finmar.2015.08.001.
• Jackwerth, Jens Carsten & Slavutskaya, Anna, 2016, "The total benefit of alternative assets to pension fund portfolios," Journal of Financial Markets, Elsevier, volume 31, issue C, pages 25-42, DOI: 10.1016/j.finmar.2016.06.002.
• Xing, Xuejing & Anderson, Randy I. & Hu, Yan, 2016, "What׳s a name worth? The impact of a likeable stock ticker symbol on firm value," Journal of Financial Markets, Elsevier, volume 31, issue C, pages 63-80, DOI: 10.1016/j.finmar.2016.06.003.
• Mobarek, Asma & Muradoglu, Gulnur & Mollah, Sabur & Hou, Ai Jun, 2016, "Determinants of time varying co-movements among international stock markets during crisis and non-crisis periods," Journal of Financial Stability, Elsevier, volume 24, issue C, pages 1-11, DOI: 10.1016/j.jfs.2016.03.003.
• Buch, Claudia M. & Koetter, Michael & Ohls, Jana, 2016, "Banks and sovereign risk: A granular view," Journal of Financial Stability, Elsevier, volume 25, issue C, pages 1-15, DOI: 10.1016/j.jfs.2016.05.002.
• Ferreira Filipe, Sara & Grammatikos, Theoharry & Michala, Dimitra, 2016, "Pricing default risk: The good, the bad, and the anomaly," Journal of Financial Stability, Elsevier, volume 26, issue C, pages 190-213, DOI: 10.1016/j.jfs.2016.07.001.
• Bijlsma, Melle & Vermeulen, Robert, 2016, "Insurance companies’ trading behaviour during the European sovereign debt crisis: Flight home or flight to quality?," Journal of Financial Stability, Elsevier, volume 27, issue C, pages 137-154, DOI: 10.1016/j.jfs.2016.11.001.
• Aymanns, Christoph & Caccioli, Fabio & Farmer, J. Doyne & Tan, Vincent W.C., 2016, "Taming the Basel leverage cycle," Journal of Financial Stability, Elsevier, volume 27, issue C, pages 263-277, DOI: 10.1016/j.jfs.2016.02.004.
• Degiannakis, Stavros & Floros, Christos, 2016, "Intra-day realized volatility for European and USA stock indices," Global Finance Journal, Elsevier, volume 29, issue C, pages 24-41, DOI: 10.1016/j.gfj.2015.05.002.
• Prombutr, Wikrom & Lockwood, Jimmy & Zhang, Ying & Le, Steven V., 2016, "Investor response to online value line rank changes: Foreign versus local stocks," Global Finance Journal, Elsevier, volume 30, issue C, pages 10-26, DOI: 10.1016/j.gfj.2016.05.002.
• Kaschützke, B. & Maurer, R., 2016, "Investing and Portfolio Allocation for Retirement," Handbook of the Economics of Population Aging, Elsevier, chapter 0, in: Piggott, John & Woodland, Alan, "Handbook of the Economics of Population Aging", DOI: 10.1016/bs.hespa.2016.09.007.
• Bretscher, Lorenzo & Julliard, Christian & Rosa, Carlo, 2016, "Human capital and international portfolio diversification: A reappraisal," Journal of International Economics, Elsevier, volume 99, issue S1, pages 78-96, DOI: 10.1016/j.jinteco.2015.12.007.
• Zeng, Yan & Li, Danping & Gu, Ailing, 2016, "Robust equilibrium reinsurance-investment strategy for a mean–variance insurer in a model with jumps," Insurance: Mathematics and Economics, Elsevier, volume 66, issue C, pages 138-152, DOI: 10.1016/j.insmatheco.2015.10.012.
• Liu, Cong & Zheng, Harry, 2016, "Asymptotic analysis for target asset portfolio allocation with small transaction costs," Insurance: Mathematics and Economics, Elsevier, volume 66, issue C, pages 59-68, DOI: 10.1016/j.insmatheco.2015.10.014.
• Zhang, Xin & Meng, Hui & Zeng, Yan, 2016, "Optimal investment and reinsurance strategies for insurers with generalized mean–variance premium principle and no-short selling," Insurance: Mathematics and Economics, Elsevier, volume 67, issue C, pages 125-132, DOI: 10.1016/j.insmatheco.2016.01.001.
• Mousa, A.S. & Pinheiro, D. & Pinto, A.A., 2016, "Optimal life-insurance selection and purchase within a market of several life-insurance providers," Insurance: Mathematics and Economics, Elsevier, volume 67, issue C, pages 133-141, DOI: 10.1016/j.insmatheco.2016.01.002.
• Cohen, Asaf & Young, Virginia R., 2016, "Minimizing lifetime poverty with a penalty for bankruptcy," Insurance: Mathematics and Economics, Elsevier, volume 69, issue C, pages 156-167, DOI: 10.1016/j.insmatheco.2016.05.013.
• Angoshtari, Bahman & Bayraktar, Erhan & Young, Virginia R., 2016, "Minimizing the probability of lifetime drawdown under constant consumption," Insurance: Mathematics and Economics, Elsevier, volume 69, issue C, pages 210-223, DOI: 10.1016/j.insmatheco.2016.05.007.
• Guan, Guohui & Liang, Zongxia, 2016, "Optimal management of DC pension plan under loss aversion and Value-at-Risk constraints," Insurance: Mathematics and Economics, Elsevier, volume 69, issue C, pages 224-237, DOI: 10.1016/j.insmatheco.2016.05.014.
• Bayraktar, Erhan & Young, Virginia R., 2016, "Optimally investing to reach a bequest goal," Insurance: Mathematics and Economics, Elsevier, volume 70, issue C, pages 1-10, DOI: 10.1016/j.insmatheco.2016.05.015.
• Young, Virginia R. & Zhang, Yuchong, 2016, "Lifetime ruin under ambiguous hazard rate," Insurance: Mathematics and Economics, Elsevier, volume 70, issue C, pages 125-134, DOI: 10.1016/j.insmatheco.2016.06.007.
• Guan, Guohui & Liang, Zongxia, 2016, "A stochastic Nash equilibrium portfolio game between two DC pension funds," Insurance: Mathematics and Economics, Elsevier, volume 70, issue C, pages 237-244, DOI: 10.1016/j.insmatheco.2016.06.015.
• Liang, Zongxia & Zhao, Xiaoyang, 2016, "Optimal mean–variance efficiency of a family with life insurance under inflation risk," Insurance: Mathematics and Economics, Elsevier, volume 71, issue C, pages 164-178, DOI: 10.1016/j.insmatheco.2016.09.004.
• Baetje, Fabian & Menkhoff, Lukas, 2016, "Equity premium prediction: Are economic and technical indicators unstable?," International Journal of Forecasting, Elsevier, volume 32, issue 4, pages 1193-1207, DOI: 10.1016/j.ijforecast.2016.02.006.
• Murtinu, Samuele & Scalera, Vittoria G., 2016, "Sovereign Wealth Funds' Internationalization Strategies: The Use of Investment Vehicles," Journal of International Management, Elsevier, volume 22, issue 3, pages 249-264, DOI: 10.1016/j.intman.2016.03.003.
• Akbas, Ferhat & Meschke, Felix & Wintoki, M. Babajide, 2016, "Director networks and informed traders," Journal of Accounting and Economics, Elsevier, volume 62, issue 1, pages 1-23, DOI: 10.1016/j.jacceco.2016.03.003.
• Brown, Lawrence D. & Call, Andrew C. & Clement, Michael B. & Sharp, Nathan Y., 2016, "The activities of buy-side analysts and the determinants of their stock recommendations," Journal of Accounting and Economics, Elsevier, volume 62, issue 1, pages 139-156, DOI: 10.1016/j.jacceco.2016.06.002.
• Miyakoshi, Tatsuyoshi & Tsukuda, Yoshihiko & Shimada, Junji, 2016, "Magnitudes of Market Inefficiency: Theory and Application," Japan and the World Economy, Elsevier, volume 39, issue C, pages 23-36, DOI: 10.1016/j.japwor.2016.05.001.
• Cho, Jin-Wan & Choi, Joung Hwa & Kim, Taeyong & Kim, Woojin, 2016, "Flight-to-quality and correlation between currency and stock returns," Journal of Banking & Finance, Elsevier, volume 62, issue C, pages 191-212, DOI: 10.1016/j.jbankfin.2014.09.003.
• Racicot, François-Éric & Théoret, Raymond, 2016, "Macroeconomic shocks, forward-looking dynamics, and the behavior of hedge funds," Journal of Banking & Finance, Elsevier, volume 62, issue C, pages 41-61, DOI: 10.1016/j.jbankfin.2015.10.004.
• Jacob, Martin & Johan, Sofia & Schweizer, Denis & Zhan, Feng, 2016, "Corporate finance and the governance implications of removing government support programs," Journal of Banking & Finance, Elsevier, volume 63, issue C, pages 35-47, DOI: 10.1016/j.jbankfin.2015.11.005.
• Namvar, Ethan & Phillips, Blake & Pukthuanthong, Kuntara & Raghavendra Rau, P., 2016, "Do hedge funds dynamically manage systematic risk?," Journal of Banking & Finance, Elsevier, volume 64, issue C, pages 1-15, DOI: 10.1016/j.jbankfin.2015.11.014.
• Comerton-Forde, Carole & Do, Binh Huu & Gray, Philip & Manton, Tom, 2016, "Assessing the information content of short-selling metrics using daily disclosures," Journal of Banking & Finance, Elsevier, volume 64, issue C, pages 188-204, DOI: 10.1016/j.jbankfin.2015.12.009.
• Platikanova, Petya & Mattei, Marco Maria, 2016, "Firm geographic dispersion and financial analysts’ forecasts," Journal of Banking & Finance, Elsevier, volume 64, issue C, pages 71-89, DOI: 10.1016/j.jbankfin.2015.11.012.
• Focardi, Sergio M. & Fabozzi, Frank J. & Mitov, Ivan K., 2016, "A new approach to statistical arbitrage: Strategies based on dynamic factor models of prices and their performance," Journal of Banking & Finance, Elsevier, volume 65, issue C, pages 134-155, DOI: 10.1016/j.jbankfin.2015.10.005.
• Henke, Hans-Martin, 2016, "The effect of social screening on bond mutual fund performance," Journal of Banking & Finance, Elsevier, volume 67, issue C, pages 69-84, DOI: 10.1016/j.jbankfin.2016.01.010.
• Anand, Abhinav & Li, Tiantian & Kurosaki, Tetsuo & Kim, Young Shin, 2016, "Foster–Hart optimal portfolios," Journal of Banking & Finance, Elsevier, volume 68, issue C, pages 117-130, DOI: 10.1016/j.jbankfin.2016.03.011.
• Bouët, Antoine & Vaubourg, Anne-Gaël, 2016, "Financial constraints and international trade with endogenous mode of competition," Journal of Banking & Finance, Elsevier, volume 68, issue C, pages 179-194, DOI: 10.1016/j.jbankfin.2016.03.007.
• Entrop, Oliver & Fischer, Georg & McKenzie, Michael & Wilkens, Marco & Winkler, Christoph, 2016, "How does pricing affect investors’ product choice? Evidence from the market for discount certificates," Journal of Banking & Finance, Elsevier, volume 68, issue C, pages 195-215, DOI: 10.1016/j.jbankfin.2016.03.003.
• Wu, Yuliang & Mazouz, Khelifa, 2016, "Long-term industry reversals," Journal of Banking & Finance, Elsevier, volume 68, issue C, pages 236-250, DOI: 10.1016/j.jbankfin.2016.03.017.
• Mei, Xiaoling & DeMiguel, Victor & Nogales, Francisco J., 2016, "Multiperiod portfolio optimization with multiple risky assets and general transaction costs," Journal of Banking & Finance, Elsevier, volume 69, issue C, pages 108-120, DOI: 10.1016/j.jbankfin.2016.04.002.
• Koliai, Lyes, 2016, "Extreme risk modeling: An EVT–pair-copulas approach for financial stress tests," Journal of Banking & Finance, Elsevier, volume 70, issue C, pages 1-22, DOI: 10.1016/j.jbankfin.2016.02.004.
• Han, Yufeng & Hu, Ting & Yang, Jian, 2016, "Are there exploitable trends in commodity futures prices?," Journal of Banking & Finance, Elsevier, volume 70, issue C, pages 214-234, DOI: 10.1016/j.jbankfin.2016.04.013.
• Ammann, Manuel & Coqueret, Guillaume & Schade, Jan-Philip, 2016, "Characteristics-based portfolio choice with leverage constraints," Journal of Banking & Finance, Elsevier, volume 70, issue C, pages 23-37, DOI: 10.1016/j.jbankfin.2016.04.019.
• Lee, Boram & Veld-Merkoulova, Yulia, 2016, "Myopic loss aversion and stock investments: An empirical study of private investors," Journal of Banking & Finance, Elsevier, volume 70, issue C, pages 235-246, DOI: 10.1016/j.jbankfin.2016.04.008.
• Ahmed, Shamim & Tsvetanov, Daniel, 2016, "The predictive performance of commodity futures risk factors," Journal of Banking & Finance, Elsevier, volume 71, issue C, pages 20-36, DOI: 10.1016/j.jbankfin.2016.06.011.
• Karapandza, Rasa, 2016, "Stock returns and future tense language in 10-K reports," Journal of Banking & Finance, Elsevier, volume 71, issue C, pages 50-61, DOI: 10.1016/j.jbankfin.2016.04.025.
• Celiker, Umut & Kayacetin, Nuri Volkan & Kumar, Raman & Sonaer, Gokhan, 2016, "Cash flow news, discount rate news, and momentum," Journal of Banking & Finance, Elsevier, volume 72, issue C, pages 240-254, DOI: 10.1016/j.jbankfin.2016.07.016.
• Dias, Alexandra, 2016, "The economic value of controlling for large losses in portfolio selection," Journal of Banking & Finance, Elsevier, volume 72, issue S, pages 81-91, DOI: 10.1016/j.jbankfin.2016.04.016.
• Cao, Jie & Han, Bing, 2016, "Idiosyncratic risk, costly arbitrage, and the cross-section of stock returns," Journal of Banking & Finance, Elsevier, volume 73, issue C, pages 1-15, DOI: 10.1016/j.jbankfin.2016.08.004.
• Cobb-Clark, Deborah A. & Kassenboehmer, Sonja C. & Sinning, Mathias G., 2016, "Locus of control and savings," Journal of Banking & Finance, Elsevier, volume 73, issue C, pages 113-130, DOI: 10.1016/j.jbankfin.2016.06.013.
• Sun, Licheng & Najand, Mohammad & Shen, Jiancheng, 2016, "Stock return predictability and investor sentiment: A high-frequency perspective," Journal of Banking & Finance, Elsevier, volume 73, issue C, pages 147-164, DOI: 10.1016/j.jbankfin.2016.09.010.
• Bateman, Hazel & Dobrescu, Loretti I. & Newell, Ben R. & Ortmann, Andreas & Thorp, Susan, 2016, "As easy as pie: How retirement savers use prescribed investment disclosures," Journal of Economic Behavior & Organization, Elsevier, volume 121, issue C, pages 60-76, DOI: 10.1016/j.jebo.2015.10.020.
• Levaggi, Rosella & Menoncin, Francesco, 2016, "Optimal dynamic tax evasion: A portfolio approach," Journal of Economic Behavior & Organization, Elsevier, volume 124, issue C, pages 115-129, DOI: 10.1016/j.jebo.2015.09.003.
• Au, Pak Hung, 2016, "Price reaction and disagreement over public signal," Journal of Economic Behavior & Organization, Elsevier, volume 130, issue C, pages 81-106, DOI: 10.1016/j.jebo.2016.07.005.
• Kramer, Marc M., 2016, "Financial literacy, confidence and financial advice seeking," Journal of Economic Behavior & Organization, Elsevier, volume 131, issue PA, pages 198-217, DOI: 10.1016/j.jebo.2016.08.016.
• Johnston, David W. & Kassenboehmer, Sonja C. & Shields, Michael A., 2016, "Financial decision-making in the household: Exploring the importance of survey respondent, health, cognitive ability and personality," Journal of Economic Behavior & Organization, Elsevier, volume 132, issue PA, pages 42-61, DOI: 10.1016/j.jebo.2016.09.014.
• El-Masry, Ahmed A. & de Mingo-López, Diego Víctor & Matallín-Sáez, Juan Carlos & Tortosa-Ausina, Emili, 2016, "Environmental conditions, fund characteristics, and Islamic orientation: An analysis of mutual fund performance for the MENA region," Journal of Economic Behavior & Organization, Elsevier, volume 132, issue S, pages 174-197, DOI: 10.1016/j.jebo.2016.10.015.
• Ashraf, Dawood & Khawaja, Mohsin, 2016, "Does the Shariah screening process matter? Evidence from Shariah compliant portfolios," Journal of Economic Behavior & Organization, Elsevier, volume 132, issue S, pages 77-92, DOI: 10.1016/j.jebo.2016.10.003.
• Yew Low, Rand Kwong & Faff, Robert & Aas, Kjersti, 2016, "Enhancing mean–variance portfolio selection by modeling distributional asymmetries," Journal of Economics and Business, Elsevier, volume 85, issue C, pages 49-72, DOI: 10.1016/j.jeconbus.2016.01.003.
• Chambers, Christopher P. & Liu, Ce & Martinez, Seung-Keun, 2016, "A test for risk-averse expected utility," Journal of Economic Theory, Elsevier, volume 163, issue C, pages 775-785, DOI: 10.1016/j.jet.2016.03.002.
• Wang, Chong & Wang, Neng & Yang, Jinqiang, 2016, "Optimal consumption and savings with stochastic income and recursive utility," Journal of Economic Theory, Elsevier, volume 165, issue C, pages 292-331, DOI: 10.1016/j.jet.2016.04.002.
• Sato, Yuki, 2016, "Delegated portfolio management, optimal fee contracts, and asset prices," Journal of Economic Theory, Elsevier, volume 165, issue C, pages 360-389, DOI: 10.1016/j.jet.2016.05.002.
• Gârleanu, Nicolae & Pedersen, Lasse Heje, 2016, "Dynamic portfolio choice with frictions," Journal of Economic Theory, Elsevier, volume 165, issue C, pages 487-516, DOI: 10.1016/j.jet.2016.06.001.
• Berk, Jonathan B. & van Binsbergen, Jules H., 2016, "Assessing asset pricing models using revealed preference," Journal of Financial Economics, Elsevier, volume 119, issue 1, pages 1-23, DOI: 10.1016/j.jfineco.2015.08.010.
• Baker, Steven D. & Hollifield, Burton & Osambela, Emilio, 2016, "Disagreement, speculation, and aggregate investment," Journal of Financial Economics, Elsevier, volume 119, issue 1, pages 210-225, DOI: 10.1016/j.jfineco.2015.08.014.
• Bradley, Daniel & Pantzalis, Christos & Yuan, Xiaojing, 2016, "The influence of political bias in state pension funds," Journal of Financial Economics, Elsevier, volume 119, issue 1, pages 69-91, DOI: 10.1016/j.jfineco.2015.08.017.
• González-Urteaga, Ana & Rubio, Gonzalo, 2016, "The cross-sectional variation of volatility risk premia," Journal of Financial Economics, Elsevier, volume 119, issue 2, pages 353-370, DOI: 10.1016/j.jfineco.2015.09.009.
• Boons, Martijn, 2016, "State variables, macroeconomic activity, and the cross section of individual stocks," Journal of Financial Economics, Elsevier, volume 119, issue 3, pages 489-511, DOI: 10.1016/j.jfineco.2015.05.010.
• Dimmock, Stephen G. & Kouwenberg, Roy & Mitchell, Olivia S. & Peijnenburg, Kim, 2016, "Ambiguity aversion and household portfolio choice puzzles: Empirical evidence," Journal of Financial Economics, Elsevier, volume 119, issue 3, pages 559-577, DOI: 10.1016/j.jfineco.2016.01.003.
• Birru, Justin & Wang, Baolian, 2016, "Nominal price illusion," Journal of Financial Economics, Elsevier, volume 119, issue 3, pages 578-598, DOI: 10.1016/j.jfineco.2016.01.027.
• Fischer, Marcel & Gallmeyer, Michael F., 2016, "Heuristic portfolio trading rules with capital gain taxes," Journal of Financial Economics, Elsevier, volume 119, issue 3, pages 611-625, DOI: 10.1016/j.jfineco.2016.01.024.
• Barrot, Jean-Noel & Kaniel, Ron & Sraer, David, 2016, "Are retail traders compensated for providing liquidity?," Journal of Financial Economics, Elsevier, volume 120, issue 1, pages 146-168, DOI: 10.1016/j.jfineco.2016.01.005.
• Johnson, Timothy C., 2016, "Rethinking reversals," Journal of Financial Economics, Elsevier, volume 120, issue 2, pages 211-228, DOI: 10.1016/j.jfineco.2016.01.026.
• Hau, Harald & Lai, Sandy, 2016, "Asset allocation and monetary policy: Evidence from the eurozone," Journal of Financial Economics, Elsevier, volume 120, issue 2, pages 309-329, DOI: 10.1016/j.jfineco.2016.01.014.
• Goetz, Martin R. & Laeven, Luc & Levine, Ross, 2016, "Does the geographic expansion of banks reduce risk?," Journal of Financial Economics, Elsevier, volume 120, issue 2, pages 346-362, DOI: 10.1016/j.jfineco.2016.01.020.
• Bollerslev, Tim & Li, Sophia Zhengzi & Todorov, Viktor, 2016, "Roughing up beta: Continuous versus discontinuous betas and the cross section of expected stock returns," Journal of Financial Economics, Elsevier, volume 120, issue 3, pages 464-490, DOI: 10.1016/j.jfineco.2016.02.001.
• Ball, Ray & Gerakos, Joseph & Linnainmaa, Juhani T. & Nikolaev, Valeri, 2016, "Accruals, cash flows, and operating profitability in the cross section of stock returns," Journal of Financial Economics, Elsevier, volume 121, issue 1, pages 28-45, DOI: 10.1016/j.jfineco.2016.03.002.