This empirical study of security issues by UK companies between 1959 and 1974 focuses on
how companies select between financing instruments at a given point in time. It throws light …

Many researchers have uncovered empirical regularities in stock market returns. If these
regularities persist, investors can expect to achieve superior performance. Unfortunately, nature …

We use a new database of long-run stock, bond, bill, inflation, and currency returns to
estimate the equity risk premium for 17 countries and a world index over a 106-year interval. …

IN THE UK, as in most other European countries, quoted companies raise virtually all their
new equity capital via the rights issue method.'In recent years, some? 1 to? 1.5 billion has …

We update our global evidence on the long-term realized equity risk premium, relative to both
bills and bonds, in 19 different countries. Our study now runs from 1900 to the start of 2011…

Investors have too often extrapolated from recent experience. In the 1950s, who but the most
rampant optimist would have dreamt that over the next fifty years the real return on equities …

This study of 862 press recommendations demonstrates that the size effect can distort longer-term
performance measures, and hence event studies. Relative to similar sized companies, …

Responsible investors require data to underpin their stock and sector selections. Regardless
of the rating agency, bond ratings for a particular issuer are broadly similar. This is not the …

The size of the equity risk premium—the incremental return that shareholders require to hold
risky equities rather than risk‐free securities—is a key issue in corporate finance. Financial …

This paper examines the problems of estimating risk measures and their stability in thin markets.
It shows analytically that conventional approaches used in previous studies can lead to …