haku: @author Voetmann, T. / yhteensä: 3
viite: 1 / 3
« edellinen | seuraava »
| Tekijä: | Neumann, R. Voetmann, T. |
| Otsikko: | Demand curves for European stocks slope down too: evidence from float-capitalization index weights in Dow Jones STOXX 50 |
| Lehti: | European Finance Review
2003 : VOL. 7:3, p. 437-457 |
| Asiasana: | Financial theory Stock exchanges Share prices Price indices Europe |
| Kieli: | eng |
| Tiivistelmä: | The 2000 implementation of float-capitalization index weights in the Dow Jones STOXXsm indices changes the demand for large European stocks. In this paper, the authors test for imperfect-substitution and price-pressure effects due to the change in the demand for stocks. Contrary to the fundamentals assumption of perfectly elastic demand curves in asset pricing theories, the findings suggest that a price pressure effect is not a plausible explanation. |
« edellinen | seuraava »
SCIMA