The Fama-Macbeth (1973) rolling-β method is widely used for estimating risk premiums, but its inherent errors-in-variables bias remains an unresolved problem, particularly when using individual assets or macroeconomic factors. We propose a solution with a particular instrumental variable, β calculated from alternate observations. The resulting estimators are unbiased. In simulations, we compare...

This paper investigates the importance of idiosyncratic consumption risk for the cross-sectional variation in average returns on stocks and bonds. If idiosyncratic consumption risk is not priced, the only pricing factor in a multiperiod economy is the rate of aggregate consumption growth. We o®er evidence that the cross-sectional variance of consumption growth is also a priced factor. This demo...

The Computer Anxiety Rating Scale and the Computer Thoughts Survey were administered to 661 students enrolled on undergraduate programmes in five different universities. A covariance matrix and an asymptotic weight matrix for each scale were computed from the sample data using PRELIS2. Two factor models were specified and estimated by maximum likelihood using LISREL8. The results revealed that ...

The purpose of this study was to contribute to the construct validity of the scores from Rose’s (2003) 34-item Ideal Mentor Scale (IMS) and to examine whether male and female doctoral students value different attributes in their ideal mentor. Two hundred and twenty-four doctoral students from colleges (Education, Public Health, Nursing, Arts and Sciences, Engineering, and Business) throughout a...

Interpersonal curiosity (IPC) is the desire for new information about people. Fifty-one IPC items were administered to 321 participants (248 women, 73 men), along with other measures of curiosity and personality. Three factors were identified from which five-item subscales were developed that had good internal consistency: Curiosity about Emotions, Spying and Prying, and Snooping. Confirmatory ...

Hou and Moskowitz (2005) document that common stocks with more price delay in reflecting information yield higher returns and that the delay premium cannot be explained by the CAPM, Fama-French three-factor model, or Carhart’s four-factor model. It cannot be explained by conventional liquidity measures either. They contend that the premium is attributable to inadequate risk sharing arising from...

The Biggs’ Study Process Questionnaire (SPQ) was used to test competing models of students’ approaches to learning in a sample of undergraduate students (n = 125) from an inquiry based Bachelor of Health Sciences program. In addition to an internal consistency and test-retest reliability analysis of the SPQ, confi rmatory factor analysis was used to evaluate the goodness-of-fi t of two competin...

The Children’s Perception of Interparental Conflict Scale (CPIC) is based on the cognitive-contextual framework for understanding interparental conflict. This study investigates the factor validity and the invariance of two factor models of CPIC within a sample of Portuguese adolescents and emerging adults (14 to 25 years old; N = 677). At the subscale level, invariance analyses (configural and...