Pension Risk and Corporate Investment: This paper studies the relation of systematic pension risk (pension beta) and corporate investment in a large sample of U.S. firms. We present evidence of a negative impact of pension risk on investment, which is consistent with the view that firms forego valuable investment opportunities because they fail to notice that systematic pension risk causes an upward bias in the discount rates they use in capital budgeting decisions. The pension risk bias in investment is economically relevant and not limited to financially constrained firms. The study can be generalized to all firms that base their investment decisions on a firm-wide discount rate without noticing the different sources of systematic risk. ...
University of Technology, Sydney. Faculty of Business.This thesis investigates a number of issues su...
This work consists of three essays that investigate the effect of investor behavior on asset prices....
This thesis is composed of three essays related to empirical asset pricing. In the first essay of th...
More and more retirees are given the choice to allocate their pension investments with either their...
The present paper reviews key issues in pension design and pension reform encountered all across th...
This study centers on the assessment of psychological value of guarantees in pension products and th...
Within the large market for mergers and acquisitions, fairness opinions are a de-facto standard in t...
Profit maximisation has always had a central role in all capitalist economies. At the macro level, h...
This dissertation investigates the association between corporate social responsibility (CSR) and man...
This dissertation is a collection of three essays that investigate the role and importance of discre...
Active portfolio management is driven by the trade-off between the expected return and the associate...
Eskom is currently one of the biggest importers of goods and services in the country. Companies expo...
In westlichen Gegenwartsgesellschaften lassen sich Ausformungen anhaltender Finanzialisierung diagno...
The question of optimal asset allocation strategy for defined contribution (DC) pension plans is add...
Despite extensive research on price and earnings estimations, there are still puzzling results that...
University of Technology, Sydney. Faculty of Business.This thesis investigates a number of issues su...
This work consists of three essays that investigate the effect of investor behavior on asset prices....
This thesis is composed of three essays related to empirical asset pricing. In the first essay of th...
More and more retirees are given the choice to allocate their pension investments with either their...
The present paper reviews key issues in pension design and pension reform encountered all across th...
This study centers on the assessment of psychological value of guarantees in pension products and th...
Within the large market for mergers and acquisitions, fairness opinions are a de-facto standard in t...
Profit maximisation has always had a central role in all capitalist economies. At the macro level, h...
This dissertation investigates the association between corporate social responsibility (CSR) and man...
This dissertation is a collection of three essays that investigate the role and importance of discre...
Active portfolio management is driven by the trade-off between the expected return and the associate...
Eskom is currently one of the biggest importers of goods and services in the country. Companies expo...
In westlichen Gegenwartsgesellschaften lassen sich Ausformungen anhaltender Finanzialisierung diagno...
The question of optimal asset allocation strategy for defined contribution (DC) pension plans is add...
Despite extensive research on price and earnings estimations, there are still puzzling results that...
University of Technology, Sydney. Faculty of Business.This thesis investigates a number of issues su...
This work consists of three essays that investigate the effect of investor behavior on asset prices....
This thesis is composed of three essays related to empirical asset pricing. In the first essay of th...