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Full-Text Articles in Business
Corporate Regulation In Australia: Fact Or Fiction, K. Cooper
Corporate Regulation In Australia: Fact Or Fiction, K. Cooper
Faculty of Business - Accounting & Finance Working Papers
This paper recognises and takes as given there is a recurring cycle of regulatory failure, regulatory reform. It also accepts the arguments of a small number of authors that there are flaws within the regulatory mechanism which contribute to the perpetuation of the regulatory failure, regulatory reform cycle. However, this paper argues that these flaws are but a symptom of more deeply seated problems. The regulatory framework is weak in very fundamental and strategic areas including the nature of legislation and accounting standards, enforcement and overall administration. The fact that these weaknesses are not adequately addressed or rectified suggests that …
Lessons From The Financial Theory Of Horse Racing, D. Edelman
Lessons From The Financial Theory Of Horse Racing, D. Edelman
Faculty of Business - Accounting & Finance Working Papers
Throughout history, man's understanding of Risk appears to have been led by those seeking to accumulate wealth through games of chance, and, much later, through investment. Generally, there was little development in the understanding of Risk or Chance until the 18th century, when mathematicians such as Bernoulli, Pascal, Laplace, and others began to investigate and characterise even the most elementary properties of coins and dice.
The Stochastically Subordinated Log Normal Process Applied To Financial Time Series And Option Pricing, D. Edelman, T. Gillespie
The Stochastically Subordinated Log Normal Process Applied To Financial Time Series And Option Pricing, D. Edelman, T. Gillespie
Faculty of Business - Accounting & Finance Working Papers
The method of stochastic subordination, or random time indexing, has been recently applied to Wiener process price processes to model financial returns. Previous emphasis in stochastic subordination models has involved explicitly identifying the subordinating process with an observable quantity such as number of trades. In contrast, the approach taken here does not depend on the specific identification of the subordinated time variable, but rather assumes a class of time models and estimates parameters from data. In addition, a simple Markov process is proposed for the characteristic parameter of the subordinating distribution to explain the significant autocorrelation of the squared returns. …