Speculative Betas
收藏NBER2012-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w18548
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资源简介：
We provide a model for why high beta assets are more prone to speculative overpricing than low beta ones. When investors disagree about the common factor of cash-flows, high beta assets are more sensitive to this macro-disagreement and experience a greater divergence-of-opinion about their payoffs.
提供机构：
美国国家经济研究局
创建时间：
2012-11-01
