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Author : James L. Bicksler
Publisher : Free Press
ISBN 13 :
Total Pages : 664 pages
Book Rating : 4.X/5 ( download)
Download or read book Capital Market Equilibrium and Efficiency written by James L. Bicksler and published by Free Press. This book was released on 1977 with total page 664 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Capital Market Equilibrium and efficiency written by and published by . This book was released on 1977 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Emilio Barucci
Publisher : Springer
ISBN 13 : 1447173228
Total Pages : 843 pages
Book Rating : 4.4/5 (471 download)
Download or read book Financial Markets Theory written by Emilio Barucci and published by Springer. This book was released on 2017-06-08 with total page 843 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work, now in a thoroughly revised second edition, presents the economic foundations of financial markets theory from a mathematically rigorous standpoint and offers a self-contained critical discussion based on empirical results. It is the only textbook on the subject to include more than two hundred exercises, with detailed solutions to selected exercises. Financial Markets Theory covers classical asset pricing theory in great detail, including utility theory, equilibrium theory, portfolio selection, mean-variance portfolio theory, CAPM, CCAPM, APT, and the Modigliani-Miller theorem. Starting from an analysis of the empirical evidence on the theory, the authors provide a discussion of the relevant literature, pointing out the main advances in classical asset pricing theory and the new approaches designed to address asset pricing puzzles and open problems (e.g., behavioral finance). Later chapters in the book contain more advanced material, including on the role of information in financial markets, non-classical preferences, noise traders and market microstructure. This textbook is aimed at graduate students in mathematical finance and financial economics, but also serves as a useful reference for practitioners working in insurance, banking, investment funds and financial consultancy. Introducing necessary tools from microeconomic theory, this book is highly accessible and completely self-contained. Advance praise for the second edition: "Financial Markets Theory is comprehensive, rigorous, and yet highly accessible. With their second edition, Barucci and Fontana have set an even higher standard!"Darrell Duffie, Dean Witter Distinguished Professor of Finance, Graduate School of Business, Stanford University "This comprehensive book is a great self-contained source for studying most major theoretical aspects of financial economics. What makes the book particularly useful is that it provides a lot of intuition, detailed discussions of empirical implications, a very thorough survey of the related literature, and many completely solved exercises. The second edition covers more ground and provides many more proofs, and it will be a handy addition to the library of every student or researcher in the field."Jaksa Cvitanic, Richard N. Merkin Professor of Mathematical Finance, Caltech "The second edition of Financial Markets Theory by Barucci and Fontana is a superb achievement that knits together all aspects of modern finance theory, including financial markets microstructure, in a consistent and self-contained framework. Many exercises, together with their detailed solutions, make this book indispensable for serious students in finance."Michel Crouhy, Head of Research and Development, NATIXIS
Author : Günter Bamberg
Publisher : Springer Science & Business Media
ISBN 13 : 3642709958
Total Pages : 233 pages
Book Rating : 4.6/5 (427 download)
Download or read book Capital Market Equilibria written by Günter Bamberg and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Huan Zhang
Publisher :
ISBN 13 :
Total Pages : 196 pages
Book Rating : 4.:/5 (27 download)
Download or read book New Tests of Capital Market Equilibrium Prices and Information Efficiency written by Huan Zhang and published by . This book was released on 1992 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Lamin Leigh
Publisher : International Monetary Fund
ISBN 13 : 1451843224
Total Pages : 42 pages
Book Rating : 4.4/5 (518 download)
Download or read book Stock Market Equilibrium and Macroeconomic Fundamentals written by Mr.Lamin Leigh and published by International Monetary Fund. This book was released on 1997-01-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the efficiency of the Stock Exchange of Singapore and the relationship between the stock market and the overall economy. Using a wide range of methods for testing market efficiency, the paper establishes that the Singapore stock market is both “weakly” and “semi-strongly” efficient in asset-pricing terms but not “strongly” efficient. Granger causality tests based on the efficiency test results indicate that developments in the stock market appear to be systematically related to the overall economy in Singapore and can thus serve as a leading indicator of its intertemporal behavior.
Author : John E. Gilster
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (31 download)
Download or read book Capital Market Equilibrium with Divergent Holding Period Length Assumptions written by John E. Gilster and published by . This book was released on 1979 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Emilio Barucci
Publisher : Springer
ISBN 13 : 9781447100904
Total Pages : 467 pages
Book Rating : 4.1/5 (9 download)
Download or read book Financial Markets Theory written by Emilio Barucci and published by Springer. This book was released on 2011-12-26 with total page 467 pages. Available in PDF, EPUB and Kindle. Book excerpt: A presentation of classical asset pricing theory, this textbook is the only one to address the economic foundations of financial markets theory from a mathematically rigorous standpoint and to offer a self-contained critical discussion based on empirical results. Tools for understanding the economic analysis are provided, and mathematical models are presented in discrete time/finite state space for simplicity. Examples and exercises included.
Author : Blaise Allaz Bernard Dumas
Publisher : Springer
ISBN 13 : 1489971165
Total Pages : 385 pages
Book Rating : 4.4/5 (899 download)
Download or read book Financial Securities written by Blaise Allaz Bernard Dumas and published by Springer. This book was released on 2013-12-19 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Finance is an area of business practice that has been deeply influenced by theoretical developments. This book provides the basic theoretical foundations necessary to understand how three broad classes of assets - stocks, options and bonds - are valued on financial markets, while developing the crucial concepts of market equilibrium and arbitrage. The analysis is rigorous, yet successfully bridges the gap between mathematical and non-mathematical approaches to provide a book which will be of interest to both academics and practitioners.
Author : Thomas Hayer
Publisher : GRIN Verlag
ISBN 13 : 3640257111
Total Pages : 42 pages
Book Rating : 4.6/5 (42 download)
Download or read book Capital Asset Prices: A Theory of Market Equilibrium under the Conditions of Risk written by Thomas Hayer and published by GRIN Verlag. This book was released on 2009 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studienarbeit aus dem Jahr 2004 im Fachbereich BWL - Investition und Finanzierung, Note: 1,3, Helmut-Schmidt-Universität - Universität der Bundeswehr Hamburg, 19 Quellen im Literaturverzeichnis, Sprache: Deutsch, Abstract: Diese Arbeit befasst sich mit dem Capital Asset Pricing Model (CAPM), ein Kapitalmarktmodell, welches von John Lintner1, Jan Mossin2 und William F. Sharpe3, getrennt voneinander, entwickelt wurde. Als Grundlage dient die von William F. Sharpe 1964 im Journal of Finance verfasste Arbeit, die den Erfolgsbeitrag einer einzelnen Aktie bzw. eines einzelnen Wertpapiers in Abhängigkeit von dessen Risiko in einem gleichgewichtigen Kapitalmarkt abbildet. Das dargestellte Modell basiert auf den Annahmen eines vollkommenen Kapitalmarktes. Dies impliziert das Fehlen von in der Praxis anfallenden Transaktionskosten sowie Steuern und anderen Friktionen, wie z.B. Markteintrittsbarrieren. Weiterhin wird angenommen, dass die Wertpapiere beliebig teilbar sind. Es wird ein vollständiger Wettbewerb aller Marktteilnehmer zu Grunde gelegt, und somit ist es einem einzelnen Teilnehmer nicht möglich den Preis der Wertpapiere zu beeinflussen. Daneben stehen den Marktteilnehmern alle Informationen jederzeit kostenlos zur Verfügung, und alle Investoren verhalten sich rational, indem sie ihren erwarteten Nutzen gemäß maximieren. Weiterhin gilt es für das Verständnis des Modells anzumerken, dass Investoren nach nur zwei Kriterien ihre Anlageentscheidung treffen. Als Erfolgskriterium betrachten die Anleger den erwarteten Ertrag den eine Aktie innerhalb einer Periode erwirtschaftet. Als Risikokriterium wird die Standardabweichung, d.h. die Abweichung vom Erwartungswert nach beiden Seiten, angesehen. Ausgehend von der Problemstellung vor der Sharpe stand, wird kurz auf den damaligen Stand der Diskussion eingegangen und anschließend wird erörtert auf welche weiteren Annahmen sein Modell fußt. Im Weiteren wird das CAPM in seinen Grundzügen erklärt und anschließend kritisch betrach
Author : Haim Shalit
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (129 download)
Download or read book Capital Market Equilibrium with Heterogeneous Investors written by Haim Shalit and published by . This book was released on 2006 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a two-parameter model that satisfies stochastic dominance, the mean-extended Gini model is used to build efficient portfolios. The model also quantifies risk aversion heterogeneity in capital markets. Using a simple Edgeworth box framework, we show how capital market equilibrium is achieved for risky assets. This approach provides a richer basis for analysis of the pricing of risky assets under heterogeneous preferences. Our main results are: (1) At equilibrium all homogeneous mean-variance investors and mean-extended Gini investors will hold portfolios of risky assets that are identical to the market portfolio; and (2) heterogeneous investors as expressed by the variance or the extended Gini hold different risky assets in portfolios, and no one must hold the market portfolio.
Author : Richard C. Stapleton
Publisher : JAI Press
ISBN 13 :
Total Pages : 194 pages
Book Rating : 4.:/5 (43 download)
Download or read book Capital Market Equilibrium and Corporate Financial Decisions written by Richard C. Stapleton and published by JAI Press. This book was released on 1980 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bernard Dumas
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.:/5 (318 download)
Download or read book Partial- Vs. General-equilibrium Models of the International Capital Market written by Bernard Dumas and published by . This book was released on 1993 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this essay, I discuss and compare two ways of modeling international capital market equilibrium: the orthodox, general-equilibrium approach and the heterodox, partial-equilibrium CAPM (Capital Asset Pricing Model) approach. The benchmark for this comparison is the model's ability to provide an explanation for, or take into account, a number of stylized facts of international finance: UIRP deviations, home-equity preference, PPP deviations and their persistence, consumption behavior in relation to wealth. In addition, I ask which approach is more likely in future research to help us identify the relevant state variables of the economy. None of the models satisfactorily explains the stylized facts but the CAPM approach affords the most productive avenue for empirical research in the immediate future.
Author : Ross Levine
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4./5 ( download)
Download or read book Stock Markets, Growth, and Policy written by Ross Levine and published by World Bank Publications. This book was released on 1990 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Rui M. Campos Guimarães
Publisher :
ISBN 13 :
Total Pages : 828 pages
Book Rating : 4.:/5 (321 download)
Download or read book A Reappraisal of the Efficiency of Financial Markets written by Rui M. Campos Guimarães and published by . This book was released on 1989 with total page 828 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stefan Palan
Publisher : GRIN Verlag
ISBN 13 : 3638703738
Total Pages : 80 pages
Book Rating : 4.6/5 (387 download)
Download or read book The Efficient Market Hypothesis and Its Validity in Today's Markets written by Stefan Palan and published by GRIN Verlag. This book was released on 2007-08 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thesis (M.A.) from the year 2004 in the subject Business economics - Investment and Finance, grade: 1 (A), University of Graz (Institute f r Industrial Economics), 99 entries in the bibliography, language: English, abstract: This Master Thesis gives an overview of the research into the efficient market hypothesis from its first days in the 1950s to the present. The discussion of theoretical models and concepts is being complemented by a review of relevant empirical evidence from international capital markets. The thesis is completed by a brief outlook on newer research venues, including models employing behavioural finance approaches.
Author : Deniz Ozenbas
Publisher : Springer Nature
ISBN 13 : 3030748170
Total Pages : 111 pages
Book Rating : 4.0/5 (37 download)
Download or read book Liquidity, Markets and Trading in Action written by Deniz Ozenbas and published by Springer Nature. This book was released on 2022 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book addresses four standard business school subjects: microeconomics, macroeconomics, finance and information systems as they relate to trading, liquidity, and market structure. It provides a detailed examination of the impact of trading costs and other impediments of trading that the authors call rictions It also presents an interactive simulation model of equity market trading, TraderEx, that enables students to implement trading decisions in different market scenarios and structures. Addressing these topics shines a bright light on how a real-world financial market operates, and the simulation provides students with an experiential learning opportunity that is informative and fun. Each of the chapters is designed so that it can be used as a stand-alone module in an existing economics, finance, or information science course. Instructor resources such as discussion questions, Powerpoint slides and TraderEx exercises are available online.
