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Game, set and match: the favorite long-shot bias in tennis betting exchanges
(Taylor & Francis, 2016)
Artículo / Artikulua,
We test for the existence of Favorite-Longshot Bias (FLB) in tennis betting exchanges. Despite these being order-driven markets, with no direct participation from bookmakers, we have found very similar results to those ...
Does default probability matter in Latin American emerging markets?
(Taylor & Francis, 2013)
Artículo / Artikulua,
We analyse the impact of default probability in four leading Latin American stock markets (Argentina, Brazil, Chile and Mexico). We find no positive default risk premium except in the case of Brazil, and in fact find a ...
Performance of default-risk measures: the sample matters
(Elsevier, 2020)
info:eu-repo/semantics/article,
This paper examines the predictive power of the main default-risk measures used by both academics and practitioners, including accounting measures, market-price-based measures and the credit rating. Given that some measures ...
The role of investor type in the fee structures of pension plans
(Springer, 2016)
Artículo / Artikulua,
We examine the role of the investor type in the fee structure of pension plans. Our examination uses a data set of employer-sponsored and individual private pension funds in Spain. We find different determinants of the ...
Is default risk the hidden factor in momentum returns? Some empirical results
(Wiley, 2014)
Artículo / Artikulua,
This paper analyzes the role of default risk in the momentum effect focusing on data from four developed European stock markets (France, Germany, Spain and the United Kingdom). Using a market-based measure of default risk, ...
Behavioral biases never walk alone: an empirical analysis of the effect of overconfidence on probabilities
(SAGE, 2014)
Artículo / Artikulua,
This paper presents evidence of the impact of overconfidence bias in asset prices drawn from a study based on data from tennis betting exchanges. A series of betting strategies in tournaments with a clear-cut favourite are ...
Pricing levered warrants with dilution using observable variables
(Taylor & Francis, 2013)
Artículo / Artikulua,
We propose a valuation framework for pricing European call warrants on the issuer's own stock that allows for debt in the issuer firm. In contrast to other works which also price warrants with dilution issued by levered ...
The effect of a switch of management company on pension plan fees
(Routledge, 2021)
info:eu-repo/semantics/article,
The impact of a switch of management company on pension plan fees is analysed by comparing the effects on employer-sponsored versus individual defined-contribution private pension plans in Spain. This framework is ideal ...
Does family ownership always reduce default risk?
(WileyAccounting and Finance Association of Australia and New Zealand, 2021)
info:eu-repo/semantics/article,
This paper analyses the effect of family ownership on the outcome of the firm’s risk‐taking activities, measured by the company’s default risk. We show that family ownership reduces the probability of default, which is ...
Sovereign debt holdings and banks’ credit risk: evidence from the Eurozone
(Elsevier, 2021)
info:eu-repo/semantics/article,
This paper investigates the direct effect of sovereign debt holding on banks’ credit risk. Using individual Eurozone listed banks’ information, we find that holding sovereign debt improves the level of banks’ credit risk, ...