A major consideration in the application of EVA is the adjustment of a large number of accounting
variables. There is no theory to guide the selection of the most relevant variables. The …

Yitzhaki [19] recently developed two portfolio selection criteria (EG and EΓ) based on the
mean and Gini's mean difference. Similar to mean-variance(EV), the EG criterion uses two …

Sharpe's market model [29] is widely used both by academic researchers and practitioners
in finance, but it cannot be accepted with complete confidence until some of its basic …

Master limited partnerships (MLPs) have been suggested as an alternative to the corporation
as a form of ownership. The major factors motivating conversion to an MLP are the …

The search for an economically sound procedure for estimating an appropriate rate of return
on equity consistent with the Supreme Court's ruling in the Hope case [13] has led many …

Two major problems faced by portfolio managers are estimating the risk and return characteristics
of individual securities and combining individual security risk and return estimates into …

The theoretical desirability of stochastic dominance (SD) as a decision rule is well established
[1, 3, 4, 7, and 11]. However, implementation of SD as a decision rule has been hindered …

The SD rules have been proposed as alternative selection criteria that are not subject to the
EV criticisms. 3 In particular, the Second Degree Stochastic Dominance (SSD) Rule is …

Recent trends in capital budgeting have been toward more complex decision rules with
increasingly sophisticated treatments of risk. Although they have the virtue of simplicity, …

The objective of this research was to investigate whether the market model is an appropriate
description of the stochastic process generating security returns. In contrast to previous …