This paper conducts a theoretical and empirical investigation of the pricing (and portfolio)
implications of investment barriers in the context of international capital markets. The …

… and allows us to compare our results with Errunza and Losq’s (1985a) results. Consequently,
in conformity with the approach used in Errunza and Losq (1985a), tests are conducted …

… Professor Losq passed away prior to publication of this paper. This work is dedicated to
the fond memories of Etienne Losq, who enlightened me and all others he touched with his …

The paper investigates the behavior of stock prices for a group of well established and newly
emerging LDC securities markets. The results suggest the probability distributions to be …

IN SEVERAL RECENT PAPERS by a colleague and ourselves, we have derived and empirically
tested utility functions for individual households which were then combined to construct …

An analysis was performed of the riskiness for emerging markets (EM) securities through
use of available data and construction of models. The risk was classified into 4 areas: 1. …

A key assumption behind the traditional capital asset pricing model (CAPM) is the joint normality
of security returns. Recently, however, this assumption has been relaxed in at least two …

This paper analyzes the structure of an international capital market characterized by differing
consumption patterns across boundaries and by uncertainty on the exchange rates, the …

This paper extends McKinnon's analysis of hedging with price and output uncertainty to the
general case where preferences are not necessarily quadratic and probability distribution …

L'intérêt des économistes pour les taux de change et l'explication de leur comportement est
relativement récent. Il est apparu dans la décennie des années 1960 et s' est développé …