Previous studies show existence of value premium. The value premium varies with firm size and has different behaviors in January and non-January. We find that small stocks have almost no value premium in January whereas large stocks have high January value premium. On the other hand, large stocks

-1979 is due to January abnormal returns. Further, more than lifty percent of the January premium is attributable to large abnormal returns during the first week of trading in the year, particularly on the first trading day. 1.

Canadian Economic Association annual meeting at Dalhousie University in Halifax, Nova Scotia. A precursor was presented in January 2007 to the D-CAF Conference on Return Predictability at Copenhagen Business School. I am grateful to participants at both conferences, to John Cochrane, Jon Lewellen

organization established at the initiative of members of the financial industry and actors from the academic arena. SIFR was launched in January 2001 and is situated in the center of Stockholm. Magnus Dahlquist serves as director of the Institute. The mission of SIFR is to: Conduct and stimulate

We analyze the results of the most recent survey of U.S. Chief Financial Officers (CFOs) which looks ahead to the first quarter of 2007 and beyond. We present expectations of the equity risk premium measured over a 10-year horizon relative to a 10-year U.S. Treasury bond. This multi-year survey has

. Daily returns were employed for a period of five years starting from January 2003 to December 2007. The excess returns for each portfolio were regressed on market, size and value factors. The results were encouraging for the three factor model. The three factor model was able to explain the variations

cross-sectional method and the pooled cross-section time series analysis tend to indicate that the liquidity premium is negative during months other than January. Morever, the Iiquidity premium in January is positive (although not significant) and at the 10 per cent level it seems to be significantly

and new market rules in 2014, covered benefits may become richer, cost sharing will decline, but premiums for the young will rise. Keywords individual insurance, cost of insurance, cost sharing This article, submitted to Medical Care Research and Review on January 11, 2010, was revised and accepted

by the forward premium recovered from forward exchange rates. Based on the forward premium from January 1997 to December1998, the devaluation probability of the Hong Kong dollar as perceived by the foreign exchange market is calculated. We examine the evolution of credibility during this period using

Correction Model (VECM) on monthly data from January 1994 to December 2002, that the international interest rate differentials are driven by the risk premium indicators. This result explains the temporary inability of high interest rates to support exchange rates. However, the risk premium considered