Blar i Scientific articles på tidsskrift "Journal of Financial Economics"

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    • Are CEOs born leaders? Lessons from traits of a million individuals 

      Adams, Renee Birgit; Keloharju, Matti; Knüpfer, Samuli (Journal article; Peer reviewed, 2018)
      What makes a successful CEO? We combine a near-exhaustive sample of male CEOs from Swedish companies with data on their cognitive and noncognitive ability and height at age 18. CEOs differ from other high-skill professions ...

    • Asset management and investment banking 

      Berzins, Janis; Liu, Crocker H.; Trzcinka, Charles (Journal article; Peer reviewed, 2013)
      We find evidence that conflicts of interest are pervasive in the asset management business owned by investment banks. Using data from 1990 to 2008, we compare the alphas of mutual funds, hedge funds, and institutional funds ...

    • Geographic dispersion and stock returns 

      Garcia, Diego; Norli, Øyvind (Journal article; Peer reviewed, 2012)
      This paper shows that stocks of truly local firms have returns that exceed the return on stocks of geographically dispersed firms by 70 basis points per month. By extracting state name counts from annual reports filed with ...

    • Real investment and risk dynamics 

      Cooper, Ilan; Priestley, Richard (Journal article; Peer reviewed, 2011)
      The spread in average returns between low and high asset growth and investment portfolios is largely accounted for by their spread in systematic risk, as measured by the Chen, Roll and Ross (1986) factors. In addition, ...

    • The expected returns and valuations of private and public firms 

      Cooper, Ilan; Priestley, Richard (Journal article; Peer reviewed, 2016)
      Characteristics play a similar role in describing returns in private rms as in public rms. This evidence suggests a causal e¤ect of optimal investment underlying the role of characteristics, as private rms do not have ...

    • Why does junior put all his eggs in one basket? A potential rational explanation for holding concentrated portfolios 

      Roche, Hervé; Tompaidis, Stathis; Yang, Chunyu (Journal article; Peer reviewed, 2013)
      Empirical studies of household portfolios show that young households, with little financial wealth, hold underdiversified portfolios that are concentrated in a small number of assets, a fact often attributed to behavioral ...