ENGLISH

Irrational Exuberance Reconsidered: The Cross Section of Stock Returns

By Dr. Mathias Külpmann CFA (auth.)

Book information

Publisher
Springer-Verlag Berlin Heidelberg
Year
2004
ISBN
978-3-642-05726-7, 978-3-540-24765-4
DOI
10.1007/978-3-540-24765-4
Language
english
Format
PDF
Filesize
6 MB (6687163 bytes)
Series
Springer Finance
Edition
2
Pages
230\232
Orientation
yes
Scanned
yes
Time added
2013-08-01 04:00:00
Finance/Investment/Banking; Quantitative Finance;

Description

Does the stock market overreact? Recent capital market turbulences have cast doubt whether the behaviour of stock markets is in line with rational investor behaviour. This monograph presents a framework to evaluate whether the stock market is in line with underlying fundamentals. This 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.

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