http://bura.brunel.ac.uk/handle/2438/13030 2026-07-11T12:48:22Z http://bura.brunel.ac.uk/handle/2438/33497 Title: Trends and persistence in ocean acidification as measured by Station Aloha Authors: Gil-Alana, GM; Caporale, LA; Romero-Rojo, MF Abstract: This paper applies fractional integration to obtain evidence on ocean acidification using the long-term Station ALOHA observational record. The modelling framework sheds light on the persistence properties as well as on the presence of trends in ocean surface pH dynamics based on the Station ALOHA series. The results indicate that the series exhibit a significant negative time trend; however, whether or not the hypothesis of a unit root is rejected depends on the assumption made about the errors. The key finding (when the errors are not incorrectly specified as I(0) processes) is the presence of long memory, which implies that the effects of shocks are long-lived, regardless of whether or not mean reversion occurs. The recursive analysis indicates that both the degree of persistence and the downward trend in the pH level have increased over time. This evidence points to the need for decisive policies to address the issue of ocean acidification and protect marine life and biodiversity. Description: ... 2026-01-01T00:00:00Z http://bura.brunel.ac.uk/handle/2438/33481 Title: Welfare-improving tax disputes Authors: Hashimzade, N Abstract: ... Description: ... 2026-01-01T00:00:00Z http://bura.brunel.ac.uk/handle/2438/33300 Title: HOUSING MARKETS AND AGEING – DYNAMICS AND POLICY ISSUES Authors: Karim, D; Davis, EP Abstract: ... Description: JEL Classification: J1, G5, R31. 2026-01-01T00:00:00Z http://bura.brunel.ac.uk/handle/2438/33169 Title: Residual Income Valuation and Stock Returns: Evidence From a Value-to-Price Investment Strategy Authors: Haboub, A; Kartsaklas, A; Sarafidis, V Abstract: This paper contributes to the accounting and asset pricing anomalies literature by investigating the performance of value-to-price (V/P) strategies, and the relationship between V/P ratio and various risk proxies. If the V/P ratio successfully predicts future returns at stock level, we hypothesize that portfolios based on the V/P ratio generate excess returns and consist of companies that are undervalued for extended periods. Both overlapping and non-overlapping returns are used to test the risk/mispricing explanation of the V/P strategy. Results for the US market show that high V/P portfolios outperform low V/P portfolios across horizons extending from 1 to 3 years. The V/P ratio is positively correlated to future stock returns after controlling for firm characteristics, which are well-known risk proxies. Findings also indicate that profitability and investment add explanatory power to the Fama–French three-factor model and for stocks with V/P ratio close to 1. However, these factors cannot explain all variation in excess returns especially for Years 2 and 3 and for stocks with high V/P ratios. Finally, portfolios with the highest V/P stocks select companies that are significantly mispriced relative to their equity (investment) and profitability growth persistence in the future. Description: JEL classification: G11, G12, G14. 2026-04-21T00:00:00Z