The efficient-market hypothesis (EMH) is one of the most important economic and financial
hypotheses that have been tested over the past century. Due to many abnormal phenomena …

We develop a novel methodology based on the marriage between the Bhattacharyya
distance, a measure of similarity across distributions of random variables, and the Johnson …

Market Microstructure is the investigation of the process and protocols that govern the
exchange of assets with the objective of reducing frictions that can impede the transfer. In …

In this paper we address three main objections of behavioral finance to the theory of rational
finance, considered as anomalies the theory of rational finance cannot explain: Predictability …

Currently there is no agreed method to estimate the Risk Premium accurately, therefore,
different authors arrive at significantly different results when calculating the risk premium for …

We develop a novel methodology based on the marriage between the Bhattacharyya
distance, a measure of similarity across distributions of random variables, and the Johnson …

Investors decide on the type and amount of their investment by considering the two
components of risk and return. In general, investing in risky and risk-free assets should be …

En la actualidad no existe un método consensuado para estimar la prima de riesgo de
manera precisa, por consiguiente, distintos autores llegan a resultados significativamente …