... the possibility of failure. As such, larger institutions are believed to have more profitable investment opportunities, higher efficiency, more diversification and a lower risk level. Consistently, Boyd and Runkle's (1993) findings suggest an inverse relationship between firm size and asset return volatility...

...Michael R. Powers Purpose The purpose of this paper is to explore the theoretical basis for heavy‐tailed asset‐return distributions. Design/methodology/approach Through a simple model of asset‐price formation, one can formulate the asset‐return random variable, ln...

...George A. Christodoulakis Purpose The purpose of this paper is to examine the asymmetric dynamic rotation of beta coefficients to global investment style factor shocks in the Morgan Stanley Capital International (MSCI) universe of assets and its implications for investment management. Design...

...Jean Fernand Nguema Purpose Following Hadar and Seo, the paper aims to determine, in the case of a portfolio with three assets, the condition of preservation of comparative statics results under which a change in risk increases the optimal value of the decision variables for all risk‐averse...

..., …, X_n, that is: Equation 5 where I( ) is the indicator function, and X_i is i.i.d. with (unknown) distribution F. © Emerald Group Publishing Limited 2006 Risk management Assets Finance and accounting There are different types of financial...