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Author : Paul H. Kupiec
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.3/5 ( download)
Download or read book Dividend-price Ratios and Expected Inflation written by Paul H. Kupiec and published by . This book was released on 1992 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paul H. Kupiec
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (848 download)
Download or read book Dividend-price Ratios and Expected Inflation: is There More to the Story Than the Inflation Proxy Effect? written by Paul H. Kupiec and published by . This book was released on 1992 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Athanasios Orphanides
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (258 download)
Download or read book Dividend-price Ratios and Expected Inflation written by Athanasios Orphanides and published by . This book was released on 1992 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steven Alan Sharpe
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.E/5 ( download)
Download or read book Stock Prices, Expected Returns, and Inflation written by Steven Alan Sharpe and published by . This book was released on 1999 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Eugene A. Pilotte
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Capital Gains, Dividend Yields, and Expected Inflation written by Eugene A. Pilotte and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: One explanation for the negative relationship between short-horizon stock returns and inflation is that inflation proxies (inversely) for expected future real output. In this paper, I examine the possibility that inflation also proxies for variation in real price/dividend ratios (excess returns). I show that when the covariance between real price/dividend ratios and inflation is nonzero, the relationship between returns and expected inflation differs for the two components of returns: dividend yields and capital gains returns. My empirical evidence demonstrates that dividend yields and capital gains are related differently to expected inflation in U.S. and foreign markets.
Author : Mr.Charles Frederick Kramer
Publisher : International Monetary Fund
ISBN 13 : 1451951981
Total Pages : 24 pages
Book Rating : 4.4/5 (519 download)
Download or read book Stock-Market Equilibrium and the Dividend Yield written by Mr.Charles Frederick Kramer and published by International Monetary Fund. This book was released on 1996-08-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can fundamentals account for the recent performance of the U.S. stock market? The price/earnings ratio is out of line with historical averages, and the dividend/price ratio has recently reached a historic low. These developments and record levels of inflows into mutual funds have led some to conclude that stock prices are above their fundamental levels. This paper assesses the recent rise in the stock market using a model for the equilibrium dividend/price ratio. While economic variables can account for most of the recent fall in the dividend/price ratio, mutual-fund inflows still have some marginal explanatory power.
Author : John Y. Campbell
Publisher :
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4.:/5 (792 download)
Download or read book The Dividend-price Ratio and Expections of Future Dividends and Discount Factors written by John Y. Campbell and published by . This book was released on 1987 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Martin Lettau
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.X/5 (6 download)
Download or read book Expected Returns and Expected Dividend Growth written by Martin Lettau and published by . This book was released on 2002 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate a consumption-based present value relation that is a function of future dividend growth. Using data on aggregate consumption and measures of the dividend payments from aggregate wealth, we show that changing forecasts of dividend growth make an important contribution to fluctuations in the U.S. stock market, despite the failure of the dividend-price ratio to uncover such variation. In addition, these dividend forecasts are found to covary with changing forecasts of excess stock returns. The variation in expected dividend growth we uncover is positively correlated with changing forecasts of excess returns and occurs at business cycle frequencies, those ranging from one to six years. Because positively correlated fluctuations in expected dividend growth and expected returns have offsetting affects on the log dividend-price ratio, the results imply that both the market risk-premium and expected dividend growth vary considerably more than what can be revealed using the log dividend-price ratio alone as a predictive variable.
Author : John Howland Cochrane
Publisher :
ISBN 13 :
Total Pages : 53 pages
Book Rating : 4.:/5 (287 download)
Download or read book Explaining the Variance of Price-dividend Ratios written by John Howland Cochrane and published by . This book was released on 1990 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Moon K. Kim
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.0/5 ( download)
Download or read book The Impact of Inflation on the Price-earnings Ratio of Common Shares written by Moon K. Kim and published by . This book was released on 1979 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Monika Piazzesi
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.:/5 (1 download)
Download or read book Inflation and the Price of Real Assets written by Monika Piazzesi and published by . This book was released on 2009 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John H. Cochrane
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (129 download)
Download or read book Explaining the Variance of Price Dividend Ratios written by John H. Cochrane and published by . This book was released on 2010 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a bound on the variance of the price-dividend ratio and a decomposition of the variance of the price-dividend ratio into components that reflect variation in expected future discount rates and variation in expected future dividend growth. Unobserved discount rates needed to make the variance bound and variance decomposition hold are characterized, and the variance bound and variance decomposition are tested for several discount rate models, including the consumption based model, and models based on interest rates plus a constant risk premium.
Author : John Y. Campbell
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (135 download)
Download or read book THE DIVIDEND-PRICE RATIO AND EXPECTATIONS OF FUTURE DIVIDENS AND DISCOUNT FACTORS written by John Y. Campbell and published by . This book was released on 1986 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Joseph M. Berrospide
Publisher : DIANE Publishing
ISBN 13 : 1437939864
Total Pages : 50 pages
Book Rating : 4.4/5 (379 download)
Download or read book Effects of Bank Capital on Lending written by Joseph M. Berrospide and published by DIANE Publishing. This book was released on 2011-04 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effect of bank capital on lending is a critical determinant of the linkage between financial conditions and real activity, and has received especial attention in the recent financial crisis. The authors use panel-regression techniques to study the lending of large bank holding companies (BHCs) and find small effects of capital on lending. They then consider the effect of capital ratios on lending using a variant of Lown and Morgan's VAR model, and again find modest effects of bank capital ratio changes on lending. The authors¿ estimated models are then used to understand recent developments in bank lending and, in particular, to consider the role of TARP-related capital injections in affecting these developments. Illus. A print on demand pub.
Author : Robert J. Shiller
Publisher : MIT Press
ISBN 13 : 9780262691512
Total Pages : 486 pages
Book Rating : 4.6/5 (915 download)
Download or read book Market Volatility written by Robert J. Shiller and published by MIT Press. This book was released on 1992-01-30 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: Market Volatility proposes an innovative theory, backed by substantial statistical evidence, on the causes of price fluctuations in speculative markets. It challenges the standard efficient markets model for explaining asset prices by emphasizing the significant role that popular opinion or psychology can play in price volatility. Why does the stock market crash from time to time? Why does real estate go in and out of booms? Why do long term borrowing rates suddenly make surprising shifts? Market Volatility represents a culmination of Shiller's research on these questions over the last dozen years. It contains reprints of major papers with new interpretive material for those unfamiliar with the issues, new papers, new surveys of relevant literature, responses to critics, data sets, and reframing of basic conclusions. Included is work authored jointly with John Y. Campbell, Karl E. Case, Sanford J. Grossman, and Jeremy J. Siegel. Market Volatility sets out basic issues relevant to all markets in which prices make movements for speculative reasons and offers detailed analyses of the stock market, the bond market, and the real estate market. It pursues the relations of these speculative prices and extends the analysis of speculative markets to macroeconomic activity in general. In studies of the October 1987 stock market crash and boom and post-boom housing markets, Market Volatility reports on research directly aimed at collecting information about popular models and interpreting the consequences of belief in those models. Shiller asserts that popular models cause people to react incorrectly to economic data and believes that changing popular models themselves contribute significantly to price movements bearing no relation to fundamental shocks.
Author :
Publisher :
ISBN 13 :
Total Pages : 596 pages
Book Rating : 4.0/5 ( download)
Download or read book The Magazine of Wall Street written by and published by . This book was released on 1909 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pablo Fernandez
Publisher : Elsevier
ISBN 13 : 0080520375
Total Pages : 661 pages
Book Rating : 4.0/5 (85 download)
Download or read book Valuation Methods and Shareholder Value Creation written by Pablo Fernandez and published by Elsevier. This book was released on 2002-09-11 with total page 661 pages. Available in PDF, EPUB and Kindle. Book excerpt: Valuation Methods and Shareholder Value Creation provides a comprehensive examination of valuation tools and guidance for analyzing and valuing a business. It covers the basics of valuation methods and shareholder value creation in addition to rigorous approaches to discounted cash flow valuation and real options for valuing a company. It highlights quantitative analyses of firm value; emphasizes qualitative management assessments; and integrates data from international companies. By examining eight different methods of discounted cash flow valuation and discussing the pros and cons of each method, the book offers thorough, accessible coverage of corporate valuation. The book provides well-structured guidance for practitioners and MBA students with a background in finance. Highlights quantitative analyses of firm value Emphasizes qualitative management assessments Integrates data from international companies
