There has been considerable public discussion of the investment performance of the University of California Retirement Plan (UCRP). Much of that discussion has been based on simple comparisons of the realized investment returns of UCRP to those of other pension plans, such as CalPERS. Such comparisons provide no economically meaningful or statistically significant information about the quality ...

The calculation of RTS amounts to measuring a relationship between inputs and outputs in a production structure. There are many methods to measure RTS in the primal space or the dual space. One of the main approaches is using the multiplier on the convexity constraint. But returns to scale measurements in DEA models are affected by the presence of regulatory constraints. These additional constr...

  We suggest a method for finding the non-dominated points of the production possibility set (PPS) with variable returns to scale (VRS) technology in data envelopment analysis (DEA). We present a multiobjective linear programming (MOLP) problem whose feasible region is the same as the PPS under variable returns to scale for generating non-dominated points. We demonstrate that Pareto solutions o...

the objective of the present study is to identify similarity and dissimilarity in the perception of the taxpayers regarding the returns and assessment aspects under vat in assam and to locate the issues of similarity and differences in the perception. the study is based on the primary data collected from the taxpayers of tinsukia town of assam by the means of questionnaire. it is found that the...

According to the nature of their activities, banks are exposed to various types of risks. Hence, risk management is at the heart of financial institutions management. In this study, we intend to summarize the information content of bank financial statements on diverse risks faced by banks and then determine how stock markets react to bank's risk management behavior. The methodology used in this...

While the relationship between stock market return and oil price is of great interest to researchers, previous studies do not investigate stock market return with petrochemical products market. In this paper, we analyzed the relationship between prices of main petrochemical products and stock returns of petrochemical companies in Tehran stock exchange. Using a panel data model and GLS estimatio...

Reversal is the current stylized fact of weekly returns. To the contrary, we find a robust and dominant momentum in one-week returns. The brief reversal that follows extreme weekly returns is itself followed by an opposing stream of continuation in returns. These subsequent momentum profits are strong enough to offset the initial reversal and to produce a significant momentum effect over the fu...