Publications

Bayesian Phylogeography Finds Its Roots

As a key factor in endemic and epidemic dynamics, the geographical distribution of viruses has been frequently interpreted in the light of their genetic histories. Unfortunately...

Market microstructure and asset pricing: On the compensation for illiquidity in stock returns

SPECIALIZED SUPPLIER NETWORKS AS A SOURCE OF COMPETITIVE ADVANTAGE: EVIDENCE FROM THE AUTO INDUSTRY

This study examines the relationship between interfirm asset specificity and performance in the auto industry. More specifically, I examine the extent to which differences in su...

Alternative factor specifications, security characteristics, and the cross-section of expected stock returns1We are especially grateful to Eugene Fama (a referee), an anonymous referee and Bill Schwert (the editor) for insightful and constructive suggestions. We also thank Wayne Ferson, Ken French, Will Goetzmann, Craig Holden, Ravi Jagannathan, Bob Jennings, Bruce Lehmann, Josef Lakonishok, Richard Roll, participants at the 1997 Meetings of the Western Finance Association, the 1997 UCLA/USC/UC Irvine conference, the November 1997 Asset Pricing Meeting of the National Bureau of Economic Research, the Atlanta Forum, and seminars at Columbia, Indiana, Florida, New York, Tulane, and Yale Universities; Eugene Fama and Ken French for providing part of the data used in this study; and Christoph Schenzler for excellent programming assistance. The second author acknowledges support from the Dean's Fund for Research and the Financial Markets Research Center at Vanderbilt University. We are responsible for remaining errors. This paper was formerly titled `A Re-Examination of Security Return Anomalies'.1

Capital Market Equilibrium with Transaction Costs

A two-asset, intertemporal portfolio selection model is formulated incorporating proportional transaction costs. The demand for assets is shown to be sensitive to these costs. H...

Trading activity and expected stock returns

High-efficiency dye-sensitized solar cell with a novel co-adsorbent

A new record efficiency (11.4%) of dye-sensitized solar cell was obtained by design and syntheses of donor–acceptor type co-adsorbents which effectively overcome the competitive...

Does Governance Matter? <i>Keiretsu</i> Alliances and Asset Specificity as Sources of Japanese Competitive Advantage

This empirical study suggests that Japanese competitive advantage in complex-product industries is at least partly due to differences in value chain governance and interfirm ass...

Natural history of nonalcoholic steatohepatitis: A longitudinal study of repeat liver biopsies

Nonalcoholic steatohepatitis may cause severe fibrosis, cirrhosis, and hepatocellular carcinoma, but supporting evidence is based on indirect data. Few publications have examine...

Astrophysical and dark matter interpretations of extended gamma-ray emission from the Galactic Center

We construct empirical models of the diffuse gamma-ray background toward the Galactic Center. Including all known point sources and a template of emission associated with intera...

New evidence on the nature of size-related anomalies in stock prices

Is Information Risk a Determinant of Asset Returns?