%PDF-1.5 % 4 0 obj << /S /GoTo /D (section.1) >> endobj 7 0 obj (Theoretical Setup) endobj 8 0 obj << /S /GoTo /D (subsection.1.1) >> endobj 11 0 obj (Theoretical Foundation of Higher Moments) endobj 12 0 obj << /S /GoTo /D (subsection.1.2) >> endobj 15 0 obj (Linear Combinations and Higher Moments) endobj 16 0 obj << /S /GoTo /D (subsection.1.3) >> endobj 19 0 obj (The Moment-''Ratio'' Test) endobj 20 0 obj << /S /GoTo /D (section.2) >> endobj 23 0 obj (Empirical Results) endobj 24 0 obj << /S /GoTo /D (subsection.2.1) >> endobj 27 0 obj (Data Sources) endobj 28 0 obj << /S /GoTo /D (subsection.2.2) >> endobj 31 0 obj (Term-Structure in the Distribution of Returns) endobj 32 0 obj << /S /GoTo /D (subsubsection.2.2.1) >> endobj 35 0 obj (Term Structure in the Tail-Risk) endobj 36 0 obj << /S /GoTo /D (subsubsection.2.2.2) >> endobj 39 0 obj (Tail-Risk Heterogeneity Among Factor Mimicking Portfolios) endobj 40 0 obj << /S /GoTo /D (subsection.2.3) >> endobj 43 0 obj (Moment-Ratio Test - Application) endobj 44 0 obj << /S /GoTo /D (subsubsection.2.3.1) >> endobj 47 0 obj (Significant Intertemporal Dependency - Economic Implications) endobj 48 0 obj << /S /GoTo /D (section.3) >> endobj 51 0 obj (Conclusion) endobj 52 0 obj << /S /GoTo /D (appendix.A) >> endobj 55 0 obj (Split sample) endobj 56 0 obj << /S /GoTo /D (appendix.B) >> endobj 59 0 obj (Momentum Crash Risk) endobj 60 0 obj << /S /GoTo /D (appendix.C) >> endobj 63 0 obj (Economic Size of the Co-Moments) endobj 64 0 obj << /S /GoTo /D (subsection.C.1) >> endobj 67 0 obj (The M3 and M4 Matrices) endobj 68 0 obj << /S /GoTo /D (subsection.C.2) >> endobj 71 0 obj (The Size of the Co-Moment) endobj 72 0 obj << /S /GoTo /D (appendix.D) >> endobj 75 0 obj (Related Literature) endobj 76 0 obj << /S /GoTo /D (subsection.D.1) >> endobj 79 0 obj (Neuberger2019) endobj 80 0 obj << /S /GoTo /D (subsection.D.2) >> endobj 83 0 obj (Fama2018) endobj 84 0 obj << /S /GoTo /D (appendix.E) >> endobj 87 0 obj (Optimal Portfolio Allocation) endobj 88 0 obj << /S /GoTo /D [89 0 R /Fit] >> endobj 92 0 obj << /Length 1979 /Filter /FlateDecode >> stream xuXKs6WȝHaqL{yWeǖu~}ڗ[ ͒e%βLdƵErsFDW%J,êv|le,3UCXmDy13%ss肋"Oū"_mg3V3ilIv&<*x{D(+-Љ*Im$}TPpxu_p,p5UJ+$axirLb~%\pO6+GsxUSgFѦo5LnƑ2{3-DJ_nxJnxQI1w~Ĩ W ۅ gc6]!RU=`~51u7ī]CT/5V=^9nE6 ɔ s³NmѦLٻ,[JfGXOO]=kej)2mh뱉[.2?d(쉁D-Ԭ%FO{<1w`4ޞiӲWPe?\< vۺ7G?fb߶+tvC6lje D P]kv,Wz# q$/}zm.z?OMFx"0ew@EzJIpIU/l*iT*$2!ц65_yr9) 5¹17 k:|۫$l H fMOҧBX#J&Q;bv`!)z\,3)[1dVvP)Pcd WR KLa\rgRl#:c&aC&jvfGT'm)eLX 84BB#2;θQGFVTQ-,_5rXMk v\t9B#G~@vpɆvо.ᶓ{~p=cv%@#o'C~"'!P|2>ݪEyt9 0!@a^@0cQ>i>%*?Qa[x YO?g,XT>hq~s%n"y "dޝ'KD9sOAKDQVMPK4Idx&9qʹ
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