Asset pricing a structural theory and its applications /
Modern asset pricing models play a central role in finance and economic theory and applications. This book introduces a structural theory to evaluate these asset pricing models and throws light on the existence of Equity Premium Puzzle. Based on the structural theory, some algebraic (valuation-prese...
| Основен автор: | Cheng, Bing. |
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| Други автори: | Tong, Howell. |
| Формат: | Електронен |
| Език: | English |
| Публикувано: |
Singapore ; Hackensack, N.J. :
World Scientific Pub. Co.,
℗♭2008.
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| Предмети: | |
| Онлайн достъп: |
http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=518594 |
| Резюме: |
Modern asset pricing models play a central role in finance and economic theory and applications. This book introduces a structural theory to evaluate these asset pricing models and throws light on the existence of Equity Premium Puzzle. Based on the structural theory, some algebraic (valuation-preserving) operations are developed in asset spaces and pricing kernel spaces. This has a very important implication leading to practical guidance in portfolio management and asset allocation in the global financial industry. The book also covers topics, such as the role of over-confidence in asset pricing modeling, relationship of the portfolio insurance with option and consumption-based asset pricing models, etc. |
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| Физически характеристики: |
1 online resource. |
| Библиография: |
Includes bibliographical references (pages 71-74) and index. |
| ISBN: |
9789812832504 9812832505 |