| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w3873 |
| 来源ID | Working Paper 3873 |
| Asset Pricing and Intrinsic Values: A Review Essay | |
| Bruce N. Lehmann | |
| 发表日期 | 1991-10-01 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | The efficient markets hypothesis has dominated modern research on asset prices. Asset prices and their intrinsic values differ in inefficient financial markets but difficulties in the measurement of intrinsic value greatly complicate market efficiency tests. Reflections on the measurement of intrinsic value provide insight into the interpretation of existing evidence and suggestions for generating new evidence on market efficiency. This review essay on the state of knowledge about market efficiency focuses on "A Reappraisal of the Efficiency of Financial Markets", analyzing the research areas from this perspective: (1) short-run stock return predictability; (2) asset pricing anomalies; and (3) excess volatility and present value relations. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Corporate Finance |
| URL | https://www.nber.org/papers/w3873 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/561206 |
| 推荐引用方式 GB/T 7714 | Bruce N. Lehmann. Asset Pricing and Intrinsic Values: A Review Essay. 1991. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w3873.pdf（297KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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