Stockholm School of Economics

About: Stockholm School of Economics is a education organization based out in Stockholm, Sweden. It is known for research contribution in the topics: Population & Entrepreneurship. The organization has 1186 authors who have published 4891 publications receiving 285543 citations. The organization is also known as: Stockholm Business School & Handelshögskolan i Stockholm.

A framework for valuing corporate securities

Abstract: We suggest a methodology for valuing corporate securities that allows the straightforward derivation of closed form solutions for complex scenarios. The tractability of the framework stems from its modularity-we provide a number of intuitive building blocks that are sufficient for valuation in typical situations. A further advantage of our approach is that it makes economic interpretation far easier than what is typically possible with other approaches, such as solving systems of partial differential equations. As examples we consider a corporate coupon bond with discrete payments, and debt subject to strategic debt service.

Forecasting with generalized bayesian vector auto regressions

Abstract: The effects of using different distributions to parameterize the prior beliefs in a Bayesian analysis of vector autoregressions are studied. The well-known Minnesota prior of Litterman as well as four less restrictive distributions are considered. Two of these prior distributions are new to vector autoregressive models. When the forecasting performance of the different parameterizations of the prior beliefs are compared it is found that the prior distributions that allow for dependencies between the equations of the VAR give rise to better forecasts.

In!ation forecast uncertainty

Abstract: We study the in!ation uncertainty reported by individual forecasters in the Survey of Professional Forecasters 1969 –2001. Three popular measures of uncertainty built from survey data are analyzed in the context of models for forecasting and asset pricing, and improved estimation methods are suggested. Popular time series models are evaluated for their ability to reproduce survey measures of uncertainty. The results show that disagreement is a better proxy of in!ation uncertainty than what previous literature has indicated, and that forecasters underestimate in!ation uncertainty. We obtain similar results for output growth uncertainty. c

Corporate Social Responsibility (CSR) Communication and Small and Medium Sized Enterprises: The Governmentality Dilemma of Explicit and Implicit CSR Communication

Abstract: Businesses that promote corporate social responsibility (CSR) through their supply chains by requiring their suppliers to report on and otherwise communicate their CSR are doing a great thing, aren...