THE MARKET PERFORMANCE OF CONGLOMERATE FIRMS IN THE UNITED KINGDOM

Article Abstract:

UNTIL RECENTLY, IT WAS BELIEVED THAT CONGLOMERATES HAD DYNAMIC, ENTREPRENEURIAL MANAGEMENT WHICH INJECTED EFFICIENCY TO TAKEN-OVER FIRMS-AND THEREFORE THE STOCKS OF CONGLOMERATES SHOULD EXHIBIT SUPERIOR PERFORMANCE. THIS ASSUMPTION IS TESTED BY EXAMINING RISK ADJUSTED RETURNS OF CONGLOMERATES IN THE UNITED KINGDOM. STATISTICAL TESTS ARE UTILIZED IN THE ANALYSIS.

United Kingdom, Conglomerate corporations, Finance, Measurement, Capital assets pricing model, Capital asset pricing model

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THE EFFECTS IN EMPIRICAL STOCK VALUATION MODELS

Article Abstract:

ESTIMATED PARAMETERS IN EMPIRICAL STOCK VALUATION MODELS OFTEN EXHIBIT INSTABILITY OVER TIME. EXPLANATIONS FOR THIS PHENOMENON ARE PRESENTED. SEVERAL MACROECONOMIC AND PSYCHOLOGICAL VARIABLES ARE INTRODUCED TO EXPLAIN INVESTOR BEHAVIOR. SIGNIFICANT EMPIRICAL REALTIONSHIPS WERE FOUND.

Evaluation, Stock-exchange, Stock exchanges, Capital

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INDIVIDUAL LABOR FORCE DECISIONS AND UNEMPLOYMENT IN LOCAL LABOR MARKETS

Article Abstract:

MOST STUDIES ASSOCIATED WITH 'DISCOURAGED WORKER EFFECT' UTILIZE ORDINARY LEAST SQUARES ESTIMATES BASED ON AGGREGATE CROSS SECTION DATA. BIASES IN THESE ESTIMATES ARE EXAMINED. A NEW LABOR SUPPLY MODEL IS DEVELOPED AND ESTIMATES BASED ON THIS MODEL ARE PRESENTED.

Supply and demand, Labor supply, Labor force

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