Expected Returns, Yield Spreads, and Asset Pricing Tests
收藏NBER2005-05-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w11323
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资源简介：
We use yield spreads to construct ex-ante returns on corporate securities, and then use the ex-ante returns in asset pricing assets. Differently from the standard approach, our tests do not use ex-post average returns as a proxy for expected returns. We find that the market beta plays a much more
提供机构：
美国国家经济研究局
创建时间：
2005-05-01
