What Determines the Stock Price and the Informative Efficiency: The Omitted Information Frequency ObservedSufficient StatisticObservational Frequency of InformationPrice InformativenessInformationally EfficiencyRational Expectations Equilibrium先前股票市場交易模型中假設每位投資人僅觀察一種訊息藉以推測股票真值並據以進行...
There are several factors that influence stock price, depending on whether one is talking about valuation at the time of an initial public offering or ongoing price fluctuations on the secondary market. Stock prices are dependent on the value of a company, current economic conditions, and ...
What Determines Stock Price Synchronicity in REITs? This paper studies the behavior of REIT stock price synchronicity for the years 1997 through 2006. Theory suggests that REIT stock prices should be largely... Richard,Chung,Scott,... - 《Journal of Real Estate Finance & Economics》 被引量: ...
1. What does it mean for a market to be efficient? 2. Explain why some stock prices may be more efficient than others. If securities markets are efficient, what is the NPV of any security, regardless of its risk? Explain what is meant by "market efficiency....
In this short article, we look at what determines the bid-ask spread for a stock. Key Takeaways The bid-ask spread for a stock is the difference in the price that someone is willing to pay (the bid) and where someone is willing to sell (the offer or ask). ...
What Determines Commodity Prices? Like all assets, commodity prices are ultimately determined bysupply and demand. For example, a booming economy might lead to increased demand for oil and other energy commodities. Supply and demand for commodities can be impacted in many ways, such as economic sh...
Financial economists have many theories of what determines investors’ asset demand, which, in conjunction with asset supply, determines asset prices. Testing these theories has proven challenging. It is seldom possible to run experiments that randomly vary the strength of theorized motives and beliefs...
He further shows that if stock prices are determined by discounting expected cash flows, corporate NPV will equal the discounted value of EVA, and increasing NPV will come down to increasing EVA. In developing his argument, the author demonstrates that TSR is actually a leveraged version of a ...
Compensation theory suggests that the principal's ability to observe the agent's actions determines the form of compensation. If the appropriate actions are known and observable, the optimal incentive contract pays the agent (manager) a fixed salary and penalizes her for suboptimal behavior. However...
or Japan. In order to take profit on rising consumer spending, funds and investments are directed to this country (see the Asset Market Model, chapter 10), so stock prices rise. With time, unemployment goes down, wages rise and inflation shows up. In the longer term this triggers central...