Financial theory and econometric methodology both struggle in formulating models that are logically sound in reconciling short-run martingale behavior for financial assets with predictable long-run behavior, leaving much of the research to be empirically driven. The present article overviews recent contributions to this subject, focusing on the main pitfalls in conducting predictive regress…

The Best Practices series addresses the growing appetite for a business reference series. Addressing issue that matter most to middle managers, the series focuses on dealing with people and communicating. Drawing on the sales history of other management series, the Best Practices line will give managers what they want most: insight into what successful managers already know and presented in eas…