Search results for "CAPI"
showing 10 items of 2622 documents
Peoples wellbeing, civic capital and sustainable practices: Evidence from the European Values Study survey
2023
The climate change issue is showing an unprecedented level of awareness in the political realm. Changing occasional sustainable practices into stable behaviors is the challenge that policymakers face. However, what makes people environmentally aware is an unsolved question, and research on this direction is in evolution. This paper examines factors that promote environmentally responsible behaviors. The study tests the hypothesis that people's wellbeing (SWB) predisposes individuals toward environmentalism. The mechanism of social and civic capital may underlie this association since people reporting higher wellbeing levels show empathy, solidarity, and greater civic engagement. This hypoth…
The Risk-Relevance of Accounting Data: Evidence from the Spanish Stock Market
2006
This paper analyses the relevance of accounting fundamentals to inform about equity risk as measured by the cost of equity capital. Assuming the latter is a summary measure of how investors make decisions regarding the allocation of resources, the strength of the association between the cost of capital and the accounting-based measures of risk indicates how important these measures are for market participants when making economic decisions. To infer the cost of equity capital, we use the O'Hanlon and Steele's method, which is based on the residual income valuation model. Moreover, we use the insights from this model to provide a theoretical underpinning for the choice of the accounting vari…
Equity Issues in the Spanish Stock Market: Windows of Opportunity, Earnings Management or Market Timing?
2005
We investigate whether the market sentiment and/or the specific operating performance of firms that conducted an equity issue on the Spanish stock market during the period 1993-2000 are related to the long-run stock-return underperformance in the year following the issue of small and medium firms. Our results reveal that equity issues were conducted by large firms just when the market showed optimistic expectations towards large firms in general. This overoptimism towards large issue firms was related to the 1990s technology boom in the case of initial public offerings (IPO), but we detect earnings management by large firms that conducted a seasoned equity offering (SEO). In this context, s…
Volatility-Managing International Equity Risk Factors
2018
Recent research (see Moreira and Muir, 2017) suggests that volatility-managed portfolios take less risk when volatility is high produce large alphas, increase Sharpe ratios, and produce large utility gains for mean-variance investors. We extend this literature by investigating the profitability of volatility-managing the Fama and French (2017) local risk factors in international equity markets. Our general findings indicate that volatility-managing adds value for local risk factors in Europe and Asia, whereas in Japan we find no such evidence. Confirming earlier studies, we find that a risk-based story is unlikely to explain our results.
An easy-to-use model for O2 supply to red muscle. Validity of assumptions, sensitivity to errors in data
1995
An easy-to-use capillary cylinder model of O2 supply to muscle is presented that considers all those factors that are known to be most important for realistic results: (1) red blood cell (RBC) O2 unloading along the capillary, (2) effects of the particulate nature of blood, (3) free and hemoglobin-facilitated O2 diffusion and reaction kinetics inside RBCs, (4) free and myoglobin-facilitated O2 diffusion inside the muscle cell, and (5) carrier-free region separating RBC and tissue. In a first approach, a highly simplified yet reasonably accurate treatment of the complex three-dimensional oxygen diffusion field in and next to capillaries is employed. As an alternative, a more realistic descri…
School violence: Evidence from the economics literature and related disciplines
2009
Schweizerische Zeitschrift für Bildungswissenschaften 31 (2009) 1, S. 135-150
A cross-country study of skills and unemployment flows
2021
AbstractUsing an international survey that directly assesses the cognitive skills of the adult population, I study the relation between skills and unemployment flows across 37 countries. Depending on the specifically assessed domain, I document that skills have an unconditional correlation with the log-risk-ratio of exiting to entering unemployment of 0.65–0.68 across the advanced and skill-abundant countries in the sample. The relation is remarkably robust and it is unlikely to be due to reverse causality. I do not find evidence that this positive relation extends to the seven relatively less advanced and less skill-abundant countries in the sample: Peru, Ecuador, Indonesia, Mexico, Chile,…
Evolución del rendimiento del capital humano en España desde 1981 a 1991
1997
International audience