We examine whether Regulation Fair Disclosure (Reg FD) has reduced the informativeness
of analysts’ information outputs. For a sample of financial analysts’ earnings forecasts and …

This paper is an early response to Campbell's (2006) call to analyze the role of financial
intermediaries in household finance. We first sketch a basic theory of financial advice that …

This paper develops a framework for partially hedging the market risk of oil reserves through
appropriately allocating financial assets for Sovereign Wealth Funds, in particular so-called ‘…

Der Realoptionsansatz zur Bewertung von Sachinvestitionen wurde in jüngerer Zeit als
Ergänzung zum Nettokapitalwertkriterium entwickelt. In der betrieblichen Praxis findet der …

The study shows that multi-bank loan pool contracts improve the risk-return profile of banks’
loan business. Banks write simple contracts on the proceeds from pooled loan portfolios, …

In an environment of near-zero yields for traditional asset classes and tightening bank
regulation, debt in privately-arranged loans has become an interesting alternative to publicly-…

Liquidity premiums have been widely documented for equity and bond markets. However,
there is a lack of easily implementable measures of systematic liquidity for bond markets, …

We show that multi-bank loan pools improve the risk-return profile of banks' loan business.
Banks write simple contracts on the proceeds from pooled loan portfolios, taking into account …

The virulence of intracellular pathogens such as Leishmania major (L. major) relies largely
on their ability to undergo cycles of replication within phagocytes, release, and uptake into …

Currency allocation for central banks is formulated as a dual benchmark optimization
problem in which central banks may attach different weights to a nominal wealth preservation …