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This monograph investigates a number of interrelated questions about the formation of expectations and the pricing of capital assets. Central to the empirical work is a unique body of expectations data collected over the decade of the 1960s. The book first describes the data and then examines a number of questions regarding consensus, accuracy, and completeness of the forecasts as well as the underlying process that appears to generate the forecasts. The book then turns to the development of a restatement of financial-asset valuation theory and goes on to use the expectations data we have collected to test the model. We find that our data permit far more satisfactory tests of valuation models than have been possible before and that they help provide important insights into the structure of security prices. Because we believe that these data will be helpful to other researchers, we have published the data themselves in as much detail as our respondents would permit.
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Previews available in: English
Subjects
Business, Capital assets pricing model, Corporate profits, Forecasting, Mathematical models, Nonfiction, Prices, Stocks, Entreprises, Modele de fixation du prix des actifs, Investments & Securities, Immobilisations, Actions (Titres de societe), Modeles mathematiques, Profits, Prevision, Prix, BUSINESS & ECONOMICSShowing 2 featured editions. View all 2 editions?
Edition | Availability |
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1
Expectations and the Structure of Share Prices
2009, University of Chicago Press
Electronic resource
in English
0226116727 9780226116723
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2
Expectations and the structure of share prices
1982, University of Chicago Press
in English
0226116689 9780226116686
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Edition Notes
Bibliography: p. 167-169.
Includes index.
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- Created April 1, 2008
- 9 revisions
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December 8, 2022 | Edited by MARC Bot | import existing book |
June 17, 2022 | Edited by ImportBot | import existing book |
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April 1, 2008 | Created by an anonymous user | Imported from Scriblio MARC record |