haku: @author Thompson, R. / yhteensä: 16
viite: 5 / 16
| Tekijä: | Sharathchandra, G. Thompson, R. |
| Otsikko: | The effect of early resolution of uncertainy on the valuation of assets: a dichotomy into market and non-market information |
| Lehti: | Review of Quantitative Finance and Accounting
1994 : VOL. 4:2, p. 137-153 |
| Asiasana: | UNCERTAINTY VALUATION ASSETS INFORMATION |
| Kieli: | eng |
| Tiivistelmä: | The authors reconsider how the temporal resolution of uncertainty about the future payoffs from capital assets affects the initial valuation of these assets. Their results regarding valuation indicate that, in an intertemporal CAPM framework, the early resolution of market uncertainty leads to an increase in the value of the market portfolio. The values of individual assets change in direct proportions to their betas. The authors reconcile the differing conclusions of Ross (1989) and Epstein and Turnbull (1980) regarding the early resolution of what they term "idiosyncratic" and "asset specific" information respectively. |
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