goods or variable specified in the contract and the price or value of such goods or variable prevailing at a given time or any interval in the future as specified in the contract; “derivatives exchange
between the price or value of goods or variable specified in the contract and the price or value of such goods or variable prevailing at a given time or any interval in the future as specified in the
Review of high-frequency trading and dark liquidity, ASIC 2015 Variable name Variable description intraday_volatility Standard deviation of 15-minute price returns month_volatility The one month running
funds Insurance Low Middle High 0 1 2 3 4 5 6 7 25 -2 7 28 -3 0 31 -3 3 34 -3 6 37 -3 9 40 -4 2 43 -4 5 46 -4 8 49 -5 1 52 -5 4 55 -5 7 58 -6 0 2.7 3.5 4.1 4.4 4.6 4.7 4.7 4.5 4.3 3.9 3.4 2.8 0 1 2 3 4 5
proxies. In this spirit, this study considers CSR to be a latent variable measured by environmental (E), social (S), and governance (G) pillars. To overcome limitations of a single-equation regression, this
by MSCI (with country GPR data availability) between 1985 and 2019, from Refinitiv Datastream. ❑ Dependent variable used to measure firm value is Tobin’s Q. ❑ To ensure the results are robust, we
+ 𝜸𝒕 + 𝜺𝒊,𝒕 𝑦𝑖,𝑡 is the risk-taking behavior variable of individual i at month t 𝑔𝑖,𝑡−1 and 𝑙𝑖,𝑡−1 are paper gain and paper loss of the previous month 𝐺𝑖,𝑡−1 and 𝐿𝑖,𝑡−1 are realized
and, consequently, build a strong company culture. Further analysis validates the results, including propensity score matching (PSM), entropy balancing, an instrumental-variable analysis, Lewbel’s (2012
Factor Bets Active Share Tracking Error0 Low High Low High Active share is a well recognized approach to measure how active the portfolio management. Active share can be used together with tracking error
earnings strings. 9 Theoretically, sufficiently high earnings persistence drives a string of earnings in the absence of a strong time trend in earnings. This, therefore, may be the case that the reward to