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Special Issues
Empirical Research on Asset Pricing and Portfolio Selection
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Empirical Research on Asset Pricing and Portfolio Selection

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Mathematics and Finance".

Deadline for manuscript submissions: 31 July 2024 | Viewed by 1470

Special Issue Editor

Prof. Dr. Mika Vaihekoski

E-Mail Website
Guest Editor
Department of Accounting and Finance, Turku School of Economics, University of Turku, FI-20014 Turun yliopisto, Finland
Interests: asset pricing; portfolio management; financial econometrics; financial history

Special Issue Information

Dear Colleagues,

This Special Issue focuses on empirical research on the broad topic of “Empirical Research on Asset Pricing and Portfolio Selection”. Empirical studies testing different (unconditional or conditional) asset pricing models for equity premia, stocks, and other financial instruments are particularly welcomed. Empirical studies on different (novel) portfolio choice strategies are equally welcomed. Contributions analyzing recent changes (e.g., global health, climate, and political risks or demand for sustainability) and their impact on asset pricing and portfolio choice are also central to this Issue. The long-term analysis of different investment strategies and/or asset classes and their performance/risk profile is also encouraged.

If you have any questions, please do not hesitate to contact me at: mika.vaihekoski@utu.fi. I look forward to receiving your submissions.

Prof. Dr. Mika Vaihekoski
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • (tests of) asset pricing models
  • priced risk factors and risk analysis
  • portfolio choice and investment strategies
  • equity premia
  • long-term investing

Published Papers (1 paper)

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Research

14 pages, 358 KiB  
Article
Revisiting Stock Market Index for the Helsinki Stock Exchange 1912–1981
by Mika Vaihekoski
J. Risk Financial Manag. 2024, 17(3), 90; https://doi.org/10.3390/jrfm17030090 - 20 Feb 2024
Viewed by 940
Abstract
Stock market indices play a central role in portfolio and risk management and performance evaluation, as well as academic research. This paper presents a fully updated and extended stock market index for the Finnish stock market using new and updated historical databases that [...] Read more.
Stock market indices play a central role in portfolio and risk management and performance evaluation, as well as academic research. This paper presents a fully updated and extended stock market index for the Finnish stock market using new and updated historical databases that cover the period from the establishment of the Helsinki Stock Exchange in October 1912 to the end of 1981. In addition to the all-share market index, four industry indices are presented for the first time. The observed geometric mean market return is 1.034 percent per month (13.14% p.a.). Of the industry indices, the banking sector performed the worst as it was found to have clearly lagged behind in the market, whereas the paper and forest and the metal and manufacturing industries performed the best during the sample period. The results also highlight the importance of taking into account corporate capital actions—which are, historically, often the hardest information to obtain—as they can have a material effect on the index performance. Full article
(This article belongs to the Special Issue Empirical Research on Asset Pricing and Portfolio Selection)
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