Details
Asset Pricing: A Structural Theory And Its Applications
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147,00 € |
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| Verlag: | World Scientific Publishing |
| Format: | |
| Veröffentl.: | 21.07.2008 |
| ISBN/EAN: | 9789812832504 |
| Sprache: | englisch |
| Anzahl Seiten: | 92 |
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Beschreibungen
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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