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| Author: | Welch, I. |
| Title: | Views of Financial Economists on the Equity Premium and on Professional Controversies |
| Journal: | Journal of Business
2000 : OCT, VOL. 73:4, p. 501-538 |
| Index terms: | FINANCE SURVEYS ESTIMATION |
| Language: | eng |
| Abstract: | This article intends to supplement existing equity premium estimates with a "common practise estimate", the consensus in the academic profession. Although this consensus is itself likely to be a weighted estimate obtained by other methods, the distribution of estimated values among academics itself is considered to be interesting. In this paper the existing estimates are discussed in detail, then surveys in general and this survey in particular are discussed in the following section which describes the design of this survey. Then the paper discusses the principal survey results, that is, the consensus view about the equity premium among the 226 responding financial economists and briefly discusses the answers to a set of issues of interest to both financial academics and financial practitioners. |
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