Despite being a highly documented phenomenon, the underlying cause of the post-earnings announcement drift is presently unknown. This study tests whether the tendency for investors to hold losses and realize gains--known ...
This paper looks to develop an understanding of stochastic calculus through basic measure theory. It begins by observing the relationships built between set theory and real-valued functions, using propositions related to ...
This paper investigates the fair price of European call options under the Black-Scholes model. The original model proposed by Black and Scholes (1973) priced European call options under five basic assumptions, namely that ...