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Irrational Exuberance Reconsidered: The Cross Section of Stock Returns (Springer Finance) - Hardcover

Buch 13 von 53: Springer Finance

Külpmann, Mathias

 
9783540140078: Irrational Exuberance Reconsidered: The Cross Section of Stock Returns (Springer Finance)
Hardcover
ISBN 10: 3540140077 ISBN 13: 9783540140078
Verlag: Springer, 2004

Inhaltsangabe

Does the stock market overreact? Recent capital market turbulences have cast doubt whether the behaviour of stock markets is in line with rational investor behaviour. To which extent stock returns are predictable is the question at the heart of the controversy between the paradigms of rational asset pricing and behavioural finance. This new and revised edition discusses the empirical evidence from both perspectives. Theory and empirical analysis are blended with feedback from security analysts to offer a road towards a deeper understanding of the underlying forces to drive performance in the stock market.

In his book "Irrational Exuberance" Robert Shiller offered an analysis of the US stock market in 2000. The focus of his book was the level of the stock market, which he thought to be overvalued at the time. This monograph offers a complementary analysis of the cross section of stock returns.

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Does the stock market overreact? Recent capital market turbulences have cast doubt whether the behaviour of stock markets is in line with rational investor behaviour. This monograph presents a framework to evaluate whether the stock market is in line with underlying fundamentals. This new and revised edition offers an up to date introduction to the controversy between rational asset pricing and behavioural finance. Empirical evidence of stock market overreaction are investigated within the paradigms of rational asset pricing and behavioural finance. Although this monograph will not promise the reader to become a millionaire, it offers a road to obtain a deeper understanding of the forces which drive stock returns. It should be of interest to anyone interested in what drives performance in the stock market.

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Verlag
Springer
Erscheinungsdatum
2004
Sprache
Englisch
ISBN 10 
3540140077
ISBN 13 
9783540140078
Einband
Gebundene Ausgabe
Auflage
2
Anzahl der Seiten
242
Kontakt zum Hersteller
Springer Netherlands
buchhandel-buch@springer.com

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Heidelberg
69126
Deutschland