This article provides an overview of evaluation studies for libraries, a brief introduction to the CAPM Project, a description of the theoretical background for the CAPM methodology and, finally, a discussion of the implementation of the methodology for the CAPM Project.

Rich metadata is crucial for the documentation and retrieval of 3D datasets in cultural heritage. Generating metadata is expensive as it is a very time consuming semi-manual process. The exponential increase of digital assets requires novel approaches for the mass generation of metadata. We present an approach that is generic, minimizes user assistance, and is customizable for different metadat...

We show that labor search frictions are an important determinant of the cross-section of equity returns. In the data, sorting firms by loadings on labor market tightness, the key statistic of search models, generates a spread in future returns of 6% annually. We propose a partial equilibrium labor market model in which heterogeneous firms make optimal employment decisions under labor search fri...

We explore the asset pricing implications of an investment-based model that features a stochastic technology frontier and costly technology adoption. Firms adopt the latest technology embodied in new capital to reach a stochastic technology frontier, but this decision entails an adoption cost. The model predicts that old capital firms are more risky and hence offer a higher returns than young c...

Risk and return do not have the clearcut negative relationship that we assume in our textbook treatment. Industry level studies in different countries have shown that risk and return are positively related above industry median (rate of return) but negatively related below industry median (rate of return). These findings contradict any model along the line of capital asset pricing model. It als...

We investigate the properties of mean-variance efficient portfolios when the number of assets is large. We show analytically and empirically that the proportion of assets held short converges to 50% as the number of assets grows, and the investment proportions are extreme, with several assets held in large positions. The cost of the no-shortselling constraint increases dramatically with the num...

The potential for blockchains to fundamentally transform how organizations produce and capture value is huge and very real. Practical applications dealing with nearly any type of digital asset demonstrate this capacity. Blockchain-based application architectures benefit from a set of unique properties including immutability and transparency of cryptographically-secured and peer-recorded transac...

In the world of digital imaging and digitisation the current ubiquity of large proprietary brands can sometimes be seen as a hindrance when considering embarking on a digitisation project. Within digitisation, the issue of digital preservation is a constant reminder of the vulnerability of our digital assets and it is possibly this ubiquity of proprietary software and formats that is seen as be...

We examine the implications of shortand long-run consumption growth fluctuations on the momentum and contrarian profits and the value premium in a unified economic framework. By allowing time-varying firm cash flow exposures to the short-run and long-run shocks in consumption growth, we find the otherwise standard intertemporal asset pricing model goes a long way in generating the momentum and ...

When capital taxes are used to finance a public good, capital mobility reduces efficiency since it narrows the tax base. This motivates the concern that capital mobility might also interfere with unilateral efforts to provide the public good of environmental quality through pollution taxes. I show in this paper that capital mobility does not affect efficiency in a small open economy, even thoug...