Now showing items 1-12 of 12

    • Bad company. The indirect effect of differences in corporate governance in the pension plan industry 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (Elsevier, 2017)   Artículo / Artikulua  OpenAccess
      This paper analyses the role played by pension plan governance structure and how it impacts on plan fees and plan performance. The results clearly show that fees decrease significantly and performance improves when pension ...
    • Behavioral biases never walk alone: an empirical analysis of the effect of overconfidence on probabilities 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (SAGE, 2014)   Artículo / Artikulua  OpenAccess
      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 ...
    • Does default probability matter in Latin American emerging markets? 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (Taylor & Francis, 2013)   Artículo / Artikulua  OpenAccess
      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 ...
    • Does family ownership always reduce default risk? 

      Abinzano Guillén, María Isabel Upna Orcid; Corredor Casado, María Pilar Upna Orcid; Martínez García, Beatriz Upna Orcid (WileyAccounting and Finance Association of Australia and New Zealand, 2021)   Artículo / Artikulua
      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 ...
    • Game, set and match: the favorite long-shot bias in tennis betting exchanges 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (Taylor & Francis, 2016)   Artículo / Artikulua  OpenAccess
      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 ...
    • Hidden power of trading activity: the FLB in tennis betting exchanges 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (SAGE Publications, 2017)   Artículo / Artikulua  OpenAccess
      This paper examines the impact of trading activity on the Favourite-Longshot Bias (FLB) in tennis Betting Exchanges, using direct measures such as betting volume, average bet and standard deviation of the odds. According ...
    • Is default risk the hidden factor in momentum returns? Some empirical results 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (Wiley, 2014)   Artículo / Artikulua  OpenAccess
      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, ...
    • Measuring credit risk in family firms 

      Abinzano Guillén, María Isabel Upna Orcid; Corredor Casado, María Pilar Upna Orcid; Martínez García, Beatriz Upna Orcid (SAGE, 2020)   Artículo / Artikulua  OpenAccess
      This article attempts to identify the default risk measure which best reflects the idiosyncratic context of public family firms. Seven accounting- and market-based measures are compared over a sample of 981 US family and ...
    • Performance of default-risk measures: the sample matters 

      Abinzano Guillén, María Isabel Upna Orcid; González Urteaga, Ana Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Sánchez Alegría, Santiago Upna Orcid (Elsevier, 2020)   Artículo / Artikulua
      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 ...
    • Pricing levered warrants with dilution using observable variables 

      Abinzano Guillén, María Isabel Upna Orcid; Navas, Javier F. (Taylor & Francis, 2013)   Artículo / Artikulua  OpenAccess
      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 role of investor type in the fee structures of pension plans 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (Springer, 2016)   Artículo / Artikulua  OpenAccess
      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 ...
    • The role of small bettors in price formation in betting exchanges 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (Routledge, 2020)   Artículo / Artikulua  OpenAccess
      The presence of small bettors in betting exchanges generates mispricing, which can lead to exploitation by informed traders or result in permanent price deviations. This paper shows that mispricing from this source is also ...