Do financial market analysts use structural economic models when forecasting exchange rates? This is the leading question analyzed in this paper. In contrast to other studies expectations are used instead of…
Ownership structures are an important element of the theory explaining corporate governance. This study presents detailed descriptive evidence on the …
The book gives a comprehensive survey of the financial sector developments in the most advanced Central and Eastern European (CEE) countries. This includes both the insitutional developments and the analysis of…
Contributions to Edited Volumes and Conference Proceedings
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2001
Asset price processes are completely described by information processes and investors' preferences. In this paper we derive the relationship between the process of investors' expectations of the terminal stock…