We examine the relationship between changes in foreign exchange rates and stock prices of
US MNCs. Using firm-specific foreign exchange indices, we find more firms with significant …

This paper demonstrates the dramatic effect of Social Security wealth on individuals’ asset
allocation. We first discuss why Social Security wealth should be included in portfolio asset-…

Using a sample of Investment Policy Statements from college and university endowments, the
authors examine the form and use of these important documents. Direct examination of the …

The behavioral asset allocation framework developed for individual investors can help
foundation and endowment trustees become more comfortable with “uncomfortable” asset …

The Capital Asset Pricing Model (CAPM) is a core component of introductory financial
management courses, capturing the relationship between market risk and expected return. …

We examine whether health care equity investments hedge health care liabilities. In contrast
with conventional wisdom, we find them uncorrelated and, thus, poor hedges. Investment …

Financial planners face a consistent challenge to help clients understand the trade-off
between risk and return. Most clients relate to the idea of a targeted level of expected return to …

Purpose This study aims to investigate the price effects, if any, of various types of residential
developments' security mechanisms. Design/methodology/approach Previous literature …

We construct a Monte Carlo simulation model to describe the distributions and implied discount
rate for participants of the US Military Survivor Benefit Plan (SBP). Two recent changes …

This study examines the relationship of locational factors on the viability of minor league
hockey franchises and examines two market factors not generally found in the literature. The …