Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 3 of 3
Full-Text Articles in Economics
Range-Based Volatility, Expected Stock Returns, And The Low Volatility Anomaly, Benjamin M. Blau, Ryan J. Whitby
Range-Based Volatility, Expected Stock Returns, And The Low Volatility Anomaly, Benjamin M. Blau, Ryan J. Whitby
Economics and Finance Faculty Publications
One of the foundations of financial economics is the idea that rational investors will discount stocks with more risk (volatility), which will result in a positive relation between risk and future returns. However, the empirical evidence is mixed when determining how volatility is related to future returns. In this paper, we examine this relation using a range-based measure of volatility, which is shown to be theoretically, numerically, and empirically superior to other measures of volatility. In a variety of tests, we find that range-based volatility is negatively associated with expected stock returns. These results are robust to time-series multifactor models …
The Influence Of Height On Academic Outcomes, Devon Haskell Gorry
The Influence Of Height On Academic Outcomes, Devon Haskell Gorry
Economics and Finance Faculty Publications
This paper examines whether the height premium for academic outcomes is driven by unequal opportunities for tall individuals. Using data from the National Longitudinal Survey of Adolescent Health, this paper shows that taller individuals typically earn higher grades and attain more schooling, but the associations are not uniform across school size. Height is only associated with better outcomes for students attending large schools and these improvements are concentrated among males. Data suggest that height contributes more to sports participation and school satisfaction in large schools where resources are more scarce. Thus, differential opportunities or treatment across height in large schools …
The Impact Of Grade Ceilings On Student Grades And Course Evaluations: Evidence From A Policy Change, Devon Haskell Gorry
The Impact Of Grade Ceilings On Student Grades And Course Evaluations: Evidence From A Policy Change, Devon Haskell Gorry
Economics and Finance Faculty Publications
This paper analyzes the effects of a grade ceiling policy on grade distributions and course evaluations. Results show that the effects vary based upon the level of the grade ceiling. A ceiling set at 2.8 decreased overall grade point average (GPA) by reducing the number of As and Bs and increasing the number of lower grades given. This low ceiling also increased the number of withdrawals and significantly lowered course evaluations. A ceiling set at 3.2 decreased overall GPA by reducing the number of As and increasing the number of Bs given, but the effects on course evaluations were smaller …