The current study presents a comprehensive research that aims to measure whether model-based forecasted volatility or implied volatility is the best method of determining future volatility. Forecasting horizons of one day, ...

This study shows the effects of firms’ debt ratios on their financial performance and compares them between the bank- and market-based financial system. Based on two theories and some empirical studies, a negative relationship ...

Testing a mutual equity fund’s performance, using the traditional CAPM and four-factor model is considered to have one major downside; the stationary beta. In these unconditional models, the risk loadings are assumed to ...