search query: @journal_id 775 / total: 26
reference: 4 / 26
| Author: | Yoshida, A. |
| Title: | Reasonableness of risk premia: a study of the term structure with risk premia in the Gensaki Market |
| Journal: | Economic Studies Quarterly
1994 : MAR, VOL. 45:1, p. 55-72 |
| Index terms: | RISK MARKETING PRIVATE COMPANIES |
| Language: | eng |
| Abstract: | This paper will propose a complementary test for the hypothesis of the term structure with risk premia and make an empirical study of the Japanese Gensaki (bond repurchase) market using daily data. This complementary test employs an idea of reasonableness of risk premia. The author adopts the probability that the return from an uncertain bond is greater than the return from a sure bond as a measure of the reasonableness of risk premia. The important feature of this reasonableness measure is that it does not depend upon the specification of individuals' preferences. |
SCIMA