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Does the Stock Market Overreact to New Information?

Does the Stock Market Overreact to New Information? PDF Author: Werner Franciscus Marcel De Bondt
Publisher:
ISBN:
Category : Investments
Languages : en
Pages : 256
Book Description

Does the Stock Market Overreact to New Information?

Does the Stock Market Overreact to New Information? PDF Author: Werner Franciscus Marcel De Bondt
Publisher:
ISBN:
Category : Investments
Languages : en
Pages : 256
Book Description


Irrational Exuberance Reconsidered

Irrational Exuberance Reconsidered PDF Author: Mathias Külpmann
Publisher: Springer Science & Business Media
ISBN: 9783540140078
Category : Business & Economics
Languages : en
Pages : 268
Book Description
Mathias Külpmann presents a framework to evaluate whether the stock market is in line with underlying fundamentals. The new and revised edition offers an up to date introduction to the controversy between rational asset pricing and behavioural finance. Empirical evidence of stock market overreaction are investigated within the paradigms of rational asset pricing and behavioural finance. Although this monograph will not promise the reader to become a millionaire, it offers a road to obtain a deeper understanding of the forces which drive stock returns. It should be of interest to anyone interested in what drives performance in the stock market.

A Reappraisal of the Efficiency of Financial Markets

A Reappraisal of the Efficiency of Financial Markets PDF Author: Rui M.C. Guimaraes
Publisher: Springer Science & Business Media
ISBN: 3642747418
Category : Business & Economics
Languages : en
Pages : 804
Book Description
The behaviour of market prices is a fascinating subject for researchers. Opinions vary substantially. from the view that prices accurately and quickly reflect relevant information to the other extreme that prices are not rationally determined and are hence to some degree predictable. This diversity of belief about the efficiency of markets is reflected in these proceedings of the NATO Advanced Research Workshop on "A reappraisal of the efficiency of financial markets". The thirty-one workshop papers cover stock. currency and commodity markets. We are pleased to have contributions on markets in eleven NATO countries: Belgium. Canada. Denmark. France. Germany. Greece. Italy. the Netherlands. Portugal. the United Kingdom and the United States. The workshop papers thus provide a wide-ranging account of contemporary research into financial markets worldwide. The workshop was held at the Hotel do Mar. Sesimbra. Portugal from April 11 th to April 15th. 1988. We record our gratitude to Jose Cabral for ensuring the smooth progress of the workshop. The generous financial assistance of NATO was supplemented by contributions from: The Chicago Board of Trade. Alianca Seguradora. Banco Comercial Portugues. Fundacao Luso-Americana Para 0 Desenvolvimento. Junta Nacional de Investigacao Cientifica e Tecnologica. We speak for all the workshop participants in expressing our thanks to all our sponsors. Rui M. Campos Guimaraes. University of Porto.

Global Stock Market Development

Global Stock Market Development PDF Author: Marcin Kalinowski
Publisher: Routledge
ISBN: 100045729X
Category : Business & Economics
Languages : en
Pages : 190
Book Description
In the current era of globalised financial markets, the stock market cannot be assessed solely by comparing quantitative features such as the number of listed companies or capitalisation on the stock exchange. This is of secondary importance from an investor's point of view. What is important, however, is how a given stock market behaves towards the environment – whether it is ‘hyperactive’ or ‘excessively lethargic’ in response to information. This book provides an innovative tool for assessing global stock markets. It describes the complex concept of ‘stock market development’ in light of classical and behavioural finance theories and considers both quantitative (the number of listed companies, turnover, etc.) and behavioural aspects (price volatility, the behaviour of fundamental indicators of listed companies). Based on an innovative method for assessing development, the author analyses 130 stock markets, indicating those that are more developed in terms of quantity and behaviour. Ultimately, this enables the assessment of which markets are more or less developed and why. This knowledge, used properly, offers an advantage over other financial market participants, and allows for the comprehensive assessment of individual stock markets, which can support the process of making good investment decisions. The book is an invaluable resource for research fellows and students in economics, particularly the field of finance. It is also addressed to business and stock market practitioners, such as financial market analysts, brokers and investment advisers.

Quasi Rational Economics

Quasi Rational Economics PDF Author: Richard H. Thaler
Publisher: Russell Sage Foundation
ISBN: 9780871548474
Category : Business & Economics
Languages : en
Pages : 396
Book Description
Standard economics theory is built on the assumption that human beings act rationally in their own self interest. But if rationality is such a reliable factor, why do economic models so often fail to predict market behavior accurately? According to Richard Thaler, the shortcomings of the standard approach arise from its failure to take into account systematic mental biases that color all human judgments and decisions.

Modern Financial Markets

Modern Financial Markets PDF Author: David W. Blackwell
Publisher: John Wiley & Sons
ISBN: 0470000104
Category : Business & Economics
Languages : en
Pages : 516
Book Description
Throughout this concise, accessible book, readers will quickly learn the fundamental concepts of managerial finance while discovering how things really work. The material is explained using an intuitive theoretical context, providing them with a richer understanding of the material and better insights into solving problems. Finance concepts are covered in a common sense manner and the use of mathematical jargon is minimized. The unifying theme for the book is the concept of valuation since it is the most fundamental concept in finance. The authors define and discuss value in terms of net present value (NPV).

Asset Price Response to New Information

Asset Price Response to New Information PDF Author: Guo Ying Luo
Publisher: Springer Science & Business Media
ISBN: 1461493692
Category : Business & Economics
Languages : en
Pages : 70
Book Description
Asset Price Response to New Information examines the effect of two types of psychological biases (namely, conservatism bias and representativeness heuristic) on the asset price reaction to new information. The author constructs various models of a competitive securities market or a security market allowing for strategic interaction among traders to prove rigorously that either conservatism or representativeness is capable of generating both asset price overreaction and underreaction to new information. The results shed some new insights on the phenomena of the asset price overreaction and underreaction to new information. In the literature, very little has been published in this area of behavioral finance. This volume will appeal to graduate-level students and researchers in finance, behavioral finance, and financial engineering.

Investment Management (Security Analysis and Portfolio Management), 19th Ed.

Investment Management (Security Analysis and Portfolio Management), 19th Ed. PDF Author: V.K.Bhalla
Publisher: S. Chand Publishing
ISBN: 9788121912488
Category : Business & Economics
Languages : en
Pages : 1112
Book Description
SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT. This 5th Edition , is thoroughly revised and updated. It describes techniques, vehicles, and strategies of the funds of an individual investor(s).For the students of Management, Commerce, Professional Course of CA, CS, ICWA, Professional of Financial Institutions and Policy Makers.

Equity Valuation and Portfolio Management

Equity Valuation and Portfolio Management PDF Author: Frank J. Fabozzi
Publisher: John Wiley & Sons
ISBN: 1118156552
Category : Business & Economics
Languages : en
Pages : 576
Book Description
A detailed look at equity valuation and portfolio management Equity valuation is a method of valuing stock prices using fundamental analysis to determine the worth of the business and discover investment opportunities. In Equity Valuation and Portfolio Management Frank J. Fabozzi and Harry M. Markowitz explain the process of equity valuation, provide the necessary mathematical background, and discuss classic and new portfolio strategies for investment managers. Divided into two comprehensive parts, this reliable resource focuses on valuation and portfolio strategies related to equities. Discusses both fundamental and new techniques for valuation and strategies Fabozzi and Markowitz are experts in the fields of investment management and economics Includes end of chapter bullet point summaries, key chapter take-aways, and study questions Filled with in-depth insights and practical advice, Equity Valuation and Portfolio Management will put you in a better position to excel at this challenging endeavor.

New Challenges in Entrepreneurship and Finance

New Challenges in Entrepreneurship and Finance PDF Author: Marta Peris-Ortiz
Publisher: Springer
ISBN: 3319088882
Category : Business & Economics
Languages : en
Pages : 278
Book Description
Since the 2008 economic crisis, small and medium-sized enterprises (SMEs) have faced serious financial problems and have been looking to financial institutions and governments for solutions and new proposals to address these issues. This book examines the new challenge in which firms receive sustainable funding that is in alignment with the company’s spending capacity. The purpose of this book is to examine the main theoretical issues and practices regarding entrepreneurship and finance and their impact on performance, innovation and economic growth. It analyzes the fundamental aspects of entrepreneurship and studies ways in which financial institutions can better fulfill their primary function of feeding capital to businesses and the economy as a whole. Entrepreneurship and finance are fundamental to achieving success in economic and social activities. SMEs’ existence and development depend on the initiatives of entrepreneurship and access to resources, especially those of a financial nature. During the recent economic crisis, several new financing instruments have appeared, especially with structures designed for helping SMEs make their way out of the recession. This book explores some of these tools in various global economies, such as France and Spain, providing an international, multidimensional perspective.