Comovements in Stock Prices and Comovements in Dividends
收藏NBER1989-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2846
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Simple efficient markets models imply that the covariance between prices of speculative assets cannot exceed the covariance between their respective fundamentals unless there is positive information pooling. Positive information pooling occurs when there is more information, in a sense defined here,
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美国国家经济研究局创建时间：
1989-02-01
