Results 71 to 80 of about 149,518 (272)
Consumption Risk and Cross-Sectional Returns [PDF]
This paper evaluates the central insight of the Consumption Capital Asset Pricing Model (C-CAPM) that an asset's expected return is determined by its equilibrium risk to consumption.
Christian Julliard, Jonathan A. Parker
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Consumption-Based CAPM and Option Pricing under Jump-Diffusion Uncertainty [PDF]
, 2003 In Kusuda [45], we developed equilibrium analysis in security market economy with jump-Wiener information where no finite number of securities can complete markets. Assuming approximately complete markets (Björk et al.
Kusuda, Koji
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Business Strategy and the Environment, EarlyView.ABSTRACT Improving carbon emission efficiency (CEE) is considered one of the most cost‐effective ways to enhance sustainability and address climate change mitigation in developing countries like India. This study analyzes manufacturing firms' CEE of sustainability initiatives (SI) and nonsustainability initiatives (non‐SI) and examines the effect of ...
Jahira Debbarma +2 more
wiley +1 more source
A Cross Section of Equity Returns: The No-Arbitrage Test [PDF]
We propose a new test based on the no-arbitrage condition that compares cross-sectional variation in equity returns to the cross-sectional variation in their conditional covariance with the discount factors.
Michael R. Wickens +2 more
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Why Context Matters in Industrial Energy Efficiency: A Framework for Electric Motor Systems
Business Strategy and the Environment, EarlyView.ABSTRACT Energy efficiency is one of the most effective means for achieving sustainability goals, yet its adoption, particularly in electric motor systems, remains limited. Insights into the dynamics between contextual elements and efficiency measures can lead to more informed decision‐making.
Davide Accordini +2 more
wiley +1 more source
Local Identification of Nonparametric and Semiparametric Models [PDF]
In parametric models a sufficient condition for local identification is that the vector of moment conditions is differentiable at the true parameter with full rank derivative matrix.
Sokbae Lee +3 more
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Business Strategy and the Environment, EarlyView.ABSTRACT Circularity brokers are intermediaries fostering the exchange of circular flows and represent a critical yet underexplored aspect of circular economy. Through social network theory, this paper examines how circularity brokers support creating circular supply chains.
Stella Viscardi, Claudia Colicchia
wiley +1 more source
Asset Returns and State-Dependent Risk Preferences [PDF]
We propose a consumption-based capital asset pricing model in which the representative agent's preferences display state-dependent risk aversion. We obtain a valuation equation in which the vector of excess on equity includes both consumption risk as ...
Gordon, Stephen, St-Amour, Pascal
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Business Strategy and the Environment, EarlyView.ABSTRACT Transitioning from linear flow resource management practices to a circular sanitation bioeconomy needs a transformative approach. In South Africa, the management of human excreta through resource recovery and reuse (RRR) has been widely researched and piloted.
William Musazura +2 more
wiley +1 more source
An Asset Market Integration Test Based on Observable Macroeconomic Stochastic Discount Factors [PDF]
There are a number of tests and measures of the degree of integration in the literature. An example is the idea that integrated markets should provide rates of return that are highly correlated with one another and that a measure of correlation provides ...
M R Wickens, P N Smith, S Sorensen
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