search query: @author Tirole, J. / total: 37
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| Author: | Holmström, B. Tirole, J. |
| Title: | LAPM: a liquidity-based asset pricing model |
| Journal: | Journal of Finance
2001 : OCT, VOL. 56:5, p. 1837-1867 |
| Index terms: | ASSETS LIQUIDITY PRICING |
| Language: | eng |
| Abstract: | The intertemporal CAPM predicts that an asset's price is equal to the expectation of the product of the asset's payoff and a representative consumer's intertemporal marginal rate of substitution. This paper develops an alternative approach to asset pricing based on corporations' desire to hoard liquidity. |
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