Söhnke M. Bartram

TL;DR: This paper used point-in-time accounting data to estimate monthly fair values of 25,000+ stocks from 36 countries and found that a trading strategy based on deviations from fair value earns significant risk-adjusted returns (alpha) in most regions, especially Asia-Pacific, that are unrelated to known anomalies.

TL;DR: In this paper, the authors investigated the motivations and practice of non-financial firms with regard to using options in their risk management activities and found that a significant number of 15% to 25% of the firms outside the financial sector use options.

TL;DR: The authors combine the innovative approaches of Elliott, Komunjer, and Timmermann with a block bootstrap to analyze whether asymmetric loss functions can rationalize the S&P 500 return expectations of individual forecasters from the Livingston Surveys.

TL;DR: In this paper, the authors estimate the foreign exchange rate exposure of 6,917 U.S. nonfinancial firms on the basis of stock prices and corporate cash flows and show that several firms are significantly exposed to at least one of the foreign currency rates Canadian Dollar, Japanese Yen and Euro, and significant exposures are more frequent at longer horizons.

TL;DR: In this article, the authors investigated the motivations and practice of non-financial firms with regard to using financial options in their risk management activities and provided a comprehensive account of the existing empirical evidence on the use of derivatives in general and options in particular by nonfinancial corporations across different underlyings and countries.