The returns to Picasso's prints and to traditional financial assets, 1977 to 1996
JE Pesando, PM Shum - Journal of cultural economics, 1999 - Springer
This paper updates prior work by Pesando (1993) regarding art as an investment. Using
world-wide auction prices for Picasso prints for the period 1977 to 1996, this paper establishes …
world-wide auction prices for Picasso prints for the period 1977 to 1996, this paper establishes …
The auction market for modern prints: Confirmations, contradictions, and new puzzles
JE Pesando, PM Shum - Economic Inquiry, 2008 - Wiley Online Library
Using a large data set with 80,214 repeat sales, we find that the real return on a diversified
portfolio of modern prints sold at auctions worldwide averaged a modest 1.51% during the …
portfolio of modern prints sold at auctions worldwide averaged a modest 1.51% during the …
Leveraged and inverse ETF performance during the financial crisis
PM Shum, J Kang - Managerial Finance, 2013 - emerald.com
Purpose – Leveraged and inverse ETFs (hereafter leveraged ETFs) have received much
press coverage of late due to issues with their performance. Managers and the media have …
press coverage of late due to issues with their performance. Managers and the media have …
Taxes and corporate debt policy in Canada: An empirical investigation
PM Shum - Canadian Journal of Economics, 1996 - JSTOR
This paper explores the implications of asymmetric corporate taxes for firms' debt policy.
The focus is on the effects of two dynamic tax provisions, loss carry-forward and loss carry-back, …
The focus is on the effects of two dynamic tax provisions, loss carry-forward and loss carry-back, …
The law of one price, noise and “irrational exuberance”: the auction market for Picasso prints
JE Pesando, PM Shum - Journal of Cultural Economics, 2007 - Springer
We use prices realized for Picasso prints at auctions worldwide, as well as the 100 prints
that comprise his Vollard Suite, to test the law of one price: the proposition that identical art …
that comprise his Vollard Suite, to test the law of one price: the proposition that identical art …
Investing in art: A cautionary tale
JE Pesando, PM Shum - The Journal of Wealth Management, 2007 - search.proquest.com
In recent years, there has been increased interest in art as an investment class and in the
possibility of securitizing art portfolios. Several entrepreneurs have sought to market art …
possibility of securitizing art portfolios. Several entrepreneurs have sought to market art …
The 1992 Canadian constitutional referendum: using financial data to assess economic consequences
PM Shum - Canadian Journal of Economics, 1995 - JSTOR
Throughout their campaign, proponents of the Charlottetown Accord warned of the financial
disaster that would strike if the accord were rejected. Those opposed to it dismissed this …
disaster that would strike if the accord were rejected. Those opposed to it dismissed this …
Stock market response to political uncertainty: evidence from the 1992 constitutional referendum
PM Shum - The Canadian Journal of Economics/Revue …, 1996 - JSTOR
During their campaign, thle proponents of the Charlottetown accord a that a failure to resolve
constitutional issues in Canada would boost support for Quebec separatism, and warned of …
constitutional issues in Canada would boost support for Quebec separatism, and warned of …
[PDF][PDF] Share Price Response to New Information with Short Horizon Investors: the Case of Hong Kong
PM Shum, JE Pesando - 1996 - yorku.ca
The reversion of Hong Kong to Chinese rule in 1997, formalized in 1984, is fast approaching.
The Hong Kong stock market thus provides a natural laboratory in which to explore the …
The Hong Kong stock market thus provides a natural laboratory in which to explore the …
[PS][PS] Irreversible Irreversible Investment Investment and Endogenous Endogenous Financing: Financing: An Evaluation Evaluation of the Corporate Corporate Tax …
M Faig, PM Shum - 1997 - economics.utoronto.ca
We evaluate the effects of corporate taxation on firms' investment and financing choices. We
focus on how the asymmetry of the corporate tax, imperfect loss carry-overs, endogenous …
focus on how the asymmetry of the corporate tax, imperfect loss carry-overs, endogenous …