| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20199 |
| 来源ID | Working Paper 20199 |
| Testing Asset Pricing Theory on Six Hundred Years of Stock Returns: Prices and Dividends for the Bazacle Company from 1372 to 1946 | |
| David le Bris; William N. Goetzmann; Sébastien Pouget | |
| 发表日期 | 2014-06-05 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | We use the Bazacle company of Toulouse's unique historical experience as a laboratory to test asset pricing theory. The Bazacle company is the earliest documented shareholding corporation. Founded in 1372 and nationalized in 1946, it was a grain milling firm for most of its 600 year history. We collect share prices and dividends over its entire lifespan. The average dividend yield in real terms was slightly in excess of is 5% per annum, while the long-term price growth was near zero. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; History ; Macroeconomic History ; Financial History |
| URL | https://www.nber.org/papers/w20199 |
| 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/577872 |
| 推荐引用方式 GB/T 7714 | David le Bris,William N. Goetzmann,Sébastien Pouget. Testing Asset Pricing Theory on Six Hundred Years of Stock Returns: Prices and Dividends for the Bazacle Company from 1372 to 1946. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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