Expected Returns, Yield Spreads, and Asset Pricing Tests
收藏数据链接：
官方服务：
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
