Corporate Earnings and the Equity Premium
收藏NBER2003-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w10054
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资源简介：
Corporate cash flows are highly volatile and strongly procyclical. We examine the asset-pricing implications of the sensitivity of corporate cash flows to economic shocks within a continuous-time model in which dividends are a stochastic fraction of aggregate consumption. We provide closed-form
提供机构：
美国国家经济研究局
创建时间：
2003-10-01
