search query: @author Pástor, L. / total: 8
reference: 7 / 8
| Author: | Pastor, L. |
| Title: | Portfolio selection and asset pricing models |
| Journal: | Journal of Finance
2000 : FEB, VOL. 55:1, p. 179-224 |
| Index terms: | FINANCE PRICING MODELS |
| Language: | eng |
| Abstract: | Finance theory can be used to form informative prior beliefs in financial decision making. This paper approaches portfolio selection in a Bayesian framework that incorporate as prior degree of belief in an asset pricing model. Sample evidence on home bias and value and size effects is evaluated from an asset-allocation perspective. U.S. investors' belief in the domestic CAPM must be very strong to justify the home bias observed in their equity holdings. |
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