Do Stock Prices Move Together Too Much?
收藏NBER1990-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w3324
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资源简介：
We show that comovements of individual stock prices cannot be justified by economic fundamentals. This finding is a rejection of the present value model of security valuation. Unlike other tests of this model, ours is robust in that it allows for volatility in ex ante rates of return. The only
提供机构：
美国国家经济研究局
创建时间：
1990-04-01
