排序方式: 共有42条查询结果,搜索用时 15 毫秒
1.
Jochem J. Bron Chinmoy Ghosh Milena T. Petrova 《The Journal of Real Estate Finance and Economics》2018,57(3):400-430
We test the performance and interaction between earnings and price momentum for European real estate companies by first making use of decile portfolios sorted on the previous 3- to 12-month returns, standardized unexpected earnings and a combination of both. Then, the relation is tested on a risk-adjusted basis employing a 3-factor asset pricing model and Fama and Macbeth (1973) cross-sectional regression analyses. Our analyses reveal several critical findings: (1) both price and earnings momentum are effective for European firms, the effect being stronger for the UK than EU firms; (2) unlike U.S. REITs, price momentum seems to dominate drift for European firms; (3) there is weak evidence for positive interaction between drift and price momentum, contrary to the U.S. evidence; (4) the performance of momentum strategies depends on the state of the economy, while controlling for systematic factors; (5) idiosyncratic risk of real estate property firms may influence the returns on drift and momentum factors. 相似文献
2.
Günther Jantzen 《Intereconomics》1972,7(8):244-247
A summit meeting of the European Ten is planned for the autumn, and it is to take place. Its main subject will be foreign policy. True, scant information was given out on the contents of the talks held between Presldent Pompidou and Federal Chancellor Brandt in Bonn early in July, but even the meagre official statements issued about them gave the impression that the two men are still of the opinion that the subject of a common foreign policy is of importance for their two countries. 相似文献
3.
4.
Measuring the immeasurable — A survey of sustainability indices 总被引:1,自引:0,他引:1
Sustainability indices for countries provide a one-dimensional metric to valuate country-specific information on the three dimensions of sustainable development: economic, environmental, and social conditions. At the policy level, they suggest an unambiguous yardstick against which a country's development can be measured and even a cross-country comparison can be performed. This article reviews the explanatory power of various sustainability indices applied in policy practice. We show that these indices fail to fulfill fundamental scientific requirements making them rather useless if not misleading with respect to policy advice. 相似文献
5.
6.
7.
8.
9.
10.
This paper investigates the relationship between subjective expectations regarding the replacement rate of income at retirement and several measures of pension satisfaction. We use panel data on Dutch employees, analyzed with fixed effects models, allowing for correlation between unobserved heterogeneity in satisfaction and optimism or pessimism in expectations. The level of the expected replacement rate is found to be positively related to satisfaction: respondents who revise their expectations of the level of their replacement rate upwards tend to become more satisfied with their pension provisions, in particular with the level of the expected benefits. We do not find robust evidence for a relationship between uncertainty and pension satisfaction. 相似文献