Responsible investors require data to underpin their stock and sector selections. Regardless
of the rating agency, bond ratings for a particular issuer are broadly similar. This is not the …

This new and unique book demonstrates that Excel and VBA can play an important role in
the explanation and implementation of numerical methods across finance. Advanced …

Factor investing is popular, and its adoption is accelerating. One reason it is increasingly
being embraced is that portfolio return expectations seem to be evidence based. However, …

Investors have too often extrapolated from recent experience. In the 1950s, who but the most
rampant optimist would have dreamt that over the next fifty years the real return on equities …

We use a new database of long-run stock, bond, bill, inflation, and currency returns to
estimate the equity risk premium for 17 countries and a world index over a 106-year interval. …

The size of the equity risk premium—the incremental return that shareholders require to hold
risky equities rather than risk‐free securities—is a key issue in corporate finance. Financial …

We update our global evidence on the long-term realized equity risk premium, relative to both
bills and bonds, in 19 different countries. Our study now runs from 1900 to the start of 2011…

… Staunton 2002), to confront the optimism of investors with the reality of history. Equities
are risky, so they should offer a higher expected return than cash or government bonds …

A lthough the search for an exact solution to valuing American options under Black-Scholes
dynamics continues, recent developments in analytic approximations and numerical …

Investors want their assets to be a force for good, or at least to do no harm. Approaches range
from avoiding companies or sectors deemed to fail on ethical grounds through to active …