This study examines the differences between founder‐controlled firms and firms controlled
by descendants or relatives of the founder. In general, we observe that founder‐controlled …

This study examines the risk and performance of the Vice Fund, an antithesis of socially
responsible funds. It also introduces a more robust measure of risk and performance, in the form …

This is the first paper to estimate the dollar impact of COVID-19 on the aggregate value of
United States commercial real estate. With the compounding effects of telecommuting, social …

The cost of capital is partly determined by a cost of equity which centres on the concepts of
the ‘capital asset pricing model’(CAPM) and, ultimately, beta. Beta traditionally assumes that …

This paper explores whether economic value added (EVA) can be used to generate two
portfolios with statistically different cumulative returns. The analysis is done using a portfolio …

Using a sophisticated sampling technique, randomly constructed stock portfolios were
compared to portfolios using all the underlying population and evaluated using 18 different …

Socially conscious individual investors face a host of challenges, not least of which are a
stock buy list screened by environmental, social, and governance (ESG) criteria, and …

The doctrine of comparable worth rests on an assumption that each job possesses an
inherent worth independent of the market forces of supply and demand. Implementation of …

This study investigates the possibility that more efficient portfolios may be constructed by
using the dual-beta model that screens out assets that exhibit more extreme downside risk …

… G. Michael Phillips, PhD, is professor of finance, real estate, and insurance at California
State University at Northridge, where his academic research focuses on modeling the impact of …