Results 11 to 20 of about 143 (140)
Assessing the role of spatial externalities in the survival of Italian innovative startups
Regional Science Policy &Practice, EarlyView., 2023 Abstract The paper provides novel empirical evidence about the effects of spatial externalities on the survival of innovative startups in Italy. Using geocoded firm‐level data, we build micro‐geographic measures of specialization and diversity that are robust to the modifiable areal unit problem.
Diego Giuliani +4 more
wiley +1 more source
Deepening the real options debate: Real options as dynamic optimization
Strategic Management Journal, EarlyView.Abstract Research Summary Is real option theory useful for management research? This topic was hotly debated two decades ago. Real options were said to be inapplicable to management research and to lack conceptual distinctiveness. Whereas responses to the claim about the non‐distinctiveness of real options were disparate, the concern about the theory's
Arkadiy V. Sakhartov +2 more
wiley +1 more source
Economic Record, EarlyView.We study the effects of heat and high temperature shocks on inflation in Australia using monthly, state‐level temperature anomaly data via two stages. In the first stage, we decompose temperature anomalies into orthogonal components using a structural vector autoregression with long‐run restrictions.
Tan Dat Huynh, Mengheng Li
wiley +1 more source
Stability results for martingale representations: The general case
Transactions of the American Mathematical Society, 2019 In this paper, we obtain stability results for martingale representations in a very general framework. More specifically, we consider a sequence of martingales, each adapted to its own filtration, and a sequence of random variables measurable with respect to those filtrations.
Papapantoleon, Antonis +2 more
openaire +4 more sources
Who Moves First? Price Discovery by Institutional and Retail Investors
Accounting &Finance, EarlyView.ABSTRACT This paper uses 77 million Finnish trades, classified as foreign institutional or domestic retail, to examine the drivers of price discovery. The results show that foreign institutional investors dominate price discovery overall, including during the Global Financial Crisis. Their informational advantage is explained by buy‐ and sell‐initiated
Zheng Wu +2 more
wiley +1 more source
Models of Viscous Fluids Generated by Martingales on the Groups of Diffeomorphisms
Journal of Computational and Engineering Mathematics, 2023 Summary: We study two martingales on the group of Sobolev diffeomorphisms of the flat \(n\)-dimensional torus, they both are described by systems of two special equations with mean derivatives. The first one describes a solution of the Burgers equation on the torus that also satisfies an analog of continuity equation.
Gliklikh, Yuriĭ Evgen'evich +1 more
openaire +2 more sources
Idiosyncratic asset return and wage risk of US households
Economic Inquiry, Volume 63, Issue 2, Page 636-657, April 2025.Abstract This paper documents the degree of idiosyncratic asset return heterogeneity, serial correlation, and correlation with wage heterogeneity for US households. Novel panel‐data measurements for returns on household assets are proposed. Sizable transitory idiosyncratic return heterogeneity is documented to exist concurrently with permanent ...
Stephen Snudden
wiley +1 more source
A generalization of Cramér large deviations for martingales
Comptes Rendus. Mathématique, 2014 In this note, we give a generalization of Cramér's large deviations for martingales, which can be regarded as a supplement of Fan et al. (2013) [3]. Our method is based on the change of probability measure developed by Grama and Haeusler (2000) [6].
Fan, Xiequan, Grama, Ion, Liu, Quansheng
openaire +4 more sources
Learning in the Limit: Income Inference from Credit Extensions
The Journal of Finance, EarlyView.ABSTRACT Combining a randomized controlled trial with administrative and survey data, this paper shows that credit limit extensions significantly increase total spending and income expectations. By controlling for changes in personal income expectations, the spending response to credit limit extensions weakens by approximately 30%.
XIAO YIN
wiley +1 more source
Generalization of Itô's formula for smooth nondegenerate martingales
Stochastic Processes and their Applications, 2001 Let \(W\) be a \(d\)-dimensional Wiener process, \(X=(X_ {t}) _ {0\leq t\leq T}\) a \(d\)-dimensional continuous local martingale adapted to \(W\) and satisfying certain nondegeneracy hypotheses. It is proven that if \(f\in L^ {p}_ {\text{loc}}(\mathbb R^ {d})\) for some \(p>d\), then the quadratic covariation of the processes \(f(X)\) and \(X^ {i}\), \
Moret, S., Nualart, D.
openaire +2 more sources