Yatırımcıların, yatırım tercihleri arasında doğru kararlar verebilmesi ve beklenilen finansal başarı düzeyine ulaşabilmeleri firmaların performanslarının ölçümü ile yakından ilişkilidir. Finansal performans ölçümünde yaygın olarak kullanılan Tobin Q gelecek göstergesi niteliğinde kabul edilmektedir. Borsa İstanbul bünyesinde işlem gören Kağıt Ürünleri Sanayi sektöründe yer alan yedi adet firman...

Extending Ireland’s (1994) model, this paper analyzes an international economy where cash or credit can be used for payment. Foreign trade credit is more costly than its domestic analog. A depreciation of the real exchange rate is associated with an external surplus and a reduced share of imports purchased with credit. Economic growth slows when foreign trade credit becomes the predominant mean...

Objetivo: Esta investigación extiende los portafolios de Markowitz, Tobin, y el CAPM con procesos α-estables. Metodología: son realizados siguientes procedimientos en un portafolio índices bursátiles del G20: 1) estimados estadísticos descriptivos parámetros α-estables rendimientos, 2) es aplicada una prueba bondad ajuste para validar α-estables, 3) estimada la matriz covariación calcular las a...

When banks extend loans to each other, they generate a negative externality in the form of systemic risk. They create a network of interbank exposures by which they expose other banks to potential insolvency cascades. In this paper, we show how a regulator can use information about the financial network to devise a transactionspecific tax based on a network centrality measure that captures syst...

Elastomeric materials experience stretch-induced softening as evidenced by a pre-stretched material exhibiting a signi1cantly more compliant response than that of the virgin material. In this paper, we propose a fully three-dimensional constitutive model for the observed softening of the stress–strain behavior. The model adopts the Mullins and Tobin concept of an evolution in the underlying har...

This paper seeks to reduce the pricing noise inherent in a normal market structure, by requiring more pricing information to be communicated. Rather than individual buy or sell orders, the speci cation of an investor's entire demand function is provided. The demand function speci es how many shares the investor would like to own for all possible prices. The demand functions of all investors can...

Objectives: Motivational and self-presentational processes pervade all aspects of our lives including exercise behaviors. Furthermore, trait perfectionism has been shown to heighten self-presentational tendencies and energize achievement striving (Flett & Hewitt, 2002; Hewitt et al., 2003). How maladaptive and adaptive perfectionism traits relate to these cognitive and behavioral processes spec...