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The New Insider Dealing Legislation - A Confusing Outcome
(Management School and Economics. The University of Edinburgh, 1996)
This paper assess the impact of new insider dealing legislation on companies, brokers' analysts, professional fund managers and private investors. The revised legislation came into effect in April 1994. Our main conclusions ...
Re-assessing the Equity Risk Premium
(Management School and Economics. The University of Edinburgh, 1997)
Estimates of the historical equity risk premium in the UK are in the range 7 per cent to 9 per cent per annum. Until recently, portfolio investors and industrialists have been encouraged to use a premium of this order in ...
Time Variations in Equity Returns
(The University of Edinburgh, 2009)
Investors accept that there is uncertainty, or risk, associated with equity investment returns. Consequently, equities are normally priced so that they provide a premium to the returns available on risk-free investments. ...