Duxbury

Discuss the empirical designs in (i) Yu and Yuan (2011) and Wang (2018a), and (ii)Wang (2018b) and Wang and Duxbury (2021).

Empirical Methods in Accounting and Finance Introduction The mean-variance relationship has long been a focus in finance literature. Traditional finance theories propose a positive mean-variance relationship , or risk-return tradeoff (Merton, 1973), i.e. bearing high (low) risk should be reward by high (low) returns, empirical studies documents at best inconclusive evidence with three mainstreams due […]

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