haku: @indexterm GEARING / yhteensä: 211
viite: 115 / 211
| Tekijä: | Schwert, G. W. |
| Otsikko: | Why does stock market volatility change over time? |
| Lehti: | Journal of Finance
1989 : DEC, VOL. 44:5, p. 1115-1153 |
| Asiasana: | STOCK MARKETS FINANCIAL MANAGEMENT GEARING CHANGE STOCK EXCHANGES |
| Kieli: | eng |
| Tiivistelmä: | The relation of stock volatility with real and nominal macroeconomic volatility, economic activity, financial leverage, and stock trading activity is analyzed using monthly data from 1857 to 1987. While aggregate leverage is significantly correlated with volatility, it explains a relatively small part of the movements in stock volatility. The amplitude of the fluctuation in aggregate stock volatility is difficult to explain using simple models of stock valuation, especially during the Great Depression. |
SCIMA