Thesis (Ph. D.)--Ohio State University, 1983. / Includes bibliographical references (leaves 120-123). Available online via OhioLINK's ETD Center.

Berlin, Humboldt-University, Diss., 2000.

This paper uses a multi-factor Arbitrage Pricing model to measure the systematic risks of U.S. Foreign Direct Investments (FDI) in the largest emerging markets of Latin America: Argentina, Brazil, Chile, and Mexico. The Arbitrage Pricing Theory (APT) states that returns on investments are exposed to and affected by a number of economy-wide factors or risks. Moreover, risk is defined as the potential losses due to the unanticipated or unexpected changes in the systematic risk factors . Because the unexpected changes in those factors account for the discrepancies between expected and actual returns, we can measure systematic risk by using traditional econometrics and multivariable analysis. Essentially, APT postulates expected returns are a linear function of unexpected changes in various regressors. The magnitude and sign of the coefficients generated provide a way to obtain a dollar denominated time explicit measure of risk. This model is estimated with a variety of estimators and it identifies four risk factors: the annual growth rates of Gross Domestic Product (GDP), money supply (M1), total exports, and total external debt, as determinants of returns. The Ordinary Least Square (OLS) results are somewhat robust--three out of four factors have the expected sign, thus supporting the hypothesis. GLS procedures reveal similar results. / Master of Arts

Bachelor-Arbeit Univ. St. Gallen, 2005.

Calif., Univ., Dep. of Management Science and Engineering, Diss.--Stanford, 2003. / Kopie, ersch. im Verl. UMI, Ann Arbor, Mich.

Frankfurt (Oder), Europa-Univ., Diss., 2005.

Europa-University, Diss., 2005--Frankfurt (Oder).

Master-Arbeit Univ. St. Gallen, 2008.

Bachelor-Arbeit Univ. St. Gallen, 2006.

The Paradise Papers represent one of the largest public data leaks comprising 13.4 million con_dential electronic documents. A dominant theory presented by Neal (2014) and Gri_th, Miller and O'Connell (2014) concerns the use of these offshore services in the relocation of intellectual property for the purposes of compliance, privacy and tax avoidance. Building on the work of Fernandez (2011), Billio et al. (2016) and Kou, Peng and Zhong (2018) in Spatial Arbitrage Pricing Theory (s-APT) and work by Kelly, Lustig and Van Nieuwerburgh (2013), Ahern (2013), Herskovic (2018) and Proch_azkov_a (2020) on the impacts of network centrality on _rm pricing, we use market response, discussed in O'Donovan, Wagner and Zeume (2019), to characterise the role of offshore services in securities pricing and the transmission of price risk. Following the spatial modelling selection procedure proposed in Mur and Angulo (2009), we identify Pro_t Margin and Price-to-Research as firm-characteristics describing market response over this event window. Using a social network lag explanatory model, we provide evidence for social exogenous effects, as described in Manski (1993), which may characterise the licensing or exchange of intellectual property between connected firms found in the Paradise Papers. From these findings, we hope to provide insight to policymakers on the role and impact of offshore services on securities pricing.