Why Hayne May Change Compliance Internationally

Why internationally adopted children should be screened for tuberculosis.

Why Stocks May Disappoint∗

We provide a formal treatment of both static and dynamic portfolio choice using the Disappointment Aversion preferences of Gul (1991), which imply asymmetric aversion to gains versus losses. Our dynamic formulation nests the standard CRRA asset allocation problem as a special case. Using realistic data generating processes, we find reasonable equity portfolio allocations for disappointment aver...

Therapeutic Vascular Compliance Change May Cause Significant Variation in Coronary Perfusion: A Numerical Study

In some pathological conditions like aortic stiffening and calcific aortic stenosis (CAS), the microstructure of the aortic root and the aortic valve leaflets are altered in response to stress resulting in changes in tissue thickness, stiffness, or both. This aortic stiffening and CAS are thought to affect coronary blood flow. The goal of the present paper was to include the flow in the coronar...

Why Good Managers May Stick to Bad Decisions - Internal Accounting Information, Managerial Turnover and Strategic Change

The connection between strategic change and managerial turnover is studied within a model where managers decide on a …rm’s strategy. Managers as well as …rm owners care for the long-term success of a company. But managers are also interested in their own reputation. Due to reputational concerns managers may be reluctant to alter strategic decisions they themselves made in the past even when int...

Internationally Correlated

Stock returns are characterized by extreme observations, jumps that would not occur under the smooth variation typical of a Gaussian process. We find that jumps are prevalent in most countries. This has been noticed before in some countries, but there has been little investigation of whether the jumps are internationally correlated. Their possible inter-correlation is important for investors be...