The total set of industries from Value Line is used to demonstrate that business risk and return are negatively correlated across companies within industries. Some empirical questions about industries themselves are also raised. The concepts of income smoothing and corporate strategy are utilized to explain this apparent paradox. Further work is both suggested and

The purpose of this research is to look into the impact cash holding, profitability, and business size on income smoothing subject study a manufacturing listed Indonesia Stock Exchange in products consumption sub-sector. Purposive sampling was utilized collect data. data-binarygistic regression data analysis strategy used confirm hypothesis correct. SPSS application process information. Cash ho...

ABSTRAK Tujuan penelitian – Untuk menganalisa dan mengevaluasi praktik income smoothing yang terjadi pada perusahaan LQ45 di BEI serta mengetahui faktor-faktor apa saja berpengaruh terhadap periode tahun 2014-2019. Desain/Metodologi/Pendekatan Populasi digunakan dalam ini adalah 45 terdaftar indeks kemudian dipilih sebanyak 23 sampel diseleksi dengan metode purposive sampling. Indeks Eckel untu...

Households who regularly report spending in the Nielsen Consumer Panel in 2008 were surveyed about financial and behavioral characteristics as well as their receipt of an Economic Stimulus Payment. Using roughly 25 million dollars in reported payments and the random timing of payments, this paper relates household characteristics to the propensity of households to spend pre-announced, lump-sum ...

This paper derives the equilibrium of an in ̄nite-horizon discrete-time CAPM economy in which agents have discounted expected quadratic utility functions. We show that there is an income stream obtainable by trading on the ̄nancial markets which best approximates perfect consumption smoothing (called the least variable income stream or LVI) such that the equilibrium consumption of each agent is ...

BACKGROUND Income, air pollution, obesity, and smoking are primary factors associated with human health and longevity in population-based studies. These four factors may have countervailing impacts on longevity. This analysis investigates longevity trade-offs between air pollution and income, and explores how relative effects of income and air pollution on human longevity are potentially influe...

The standard life-cycle incomplete-markets model, where households face idiosyncratic income shocks and trade a non-contingent asset, is a workhorse of quantitative macroeconomics. In this paper, we assess the degree of consumption insurance implicit in a plausibly calibrated version of the model, and we compare it to the data. On both actual and simulated data, we apply a technique recently de...

We describe a simulated financial decision making task that requires the participant to make decisions, over the course of a life cycle, regarding how much of their income to consume immediately and how much to save for a later retirement phase in which no income will be generated. The savings task was developed to be readily understood and performed online by members of a diverse participant p...

Much research has been conducted on intra-village consumption smoothing based on the full risk sharing hypothesis. However, the conventional tests ignore geographic network effects, which are potentially important because of transaction costs and spatially covariate shock. Employing spatial panel econometric models, this study extends the empirical tests of full risk sharing to incorporate geog...

This paper empirically examines various incentives facing managers of Australian life insurers to voluntarily use actuarial-based income smoothing techniques (AIS). AIS were subsequently incorporated into jointly-developed Australian and New Zealand life insurance accounting standards (LIAS) issued in 1997. The propensity of managers to voluntarily use AIS is predicted to be related to the firm...