haku: @indexterm FINANCIAL ANALYSIS / yhteensä: 599
viite: 90 / 599
| Tekijä: | Eaton, R. van Conover, J. |
| Otsikko: | Put prices and PEN participation rates at longer horizons: is equity risk in the eye of the beholder? |
| Lehti: | Financial Analysts' Journal
1997 : NOV-DEC, VOL. 53:6, p. 67-73 |
| Asiasana: | FINANCIAL ANALYSIS PRICES RISK |
| Kieli: | eng |
| Tiivistelmä: | Two recent articles in the Financial Analysis Journal address the question of how equity risk changes as investment horizons grow longer. Both use analyses based on derivatives-pricing examples but draw exactly opposite conclusions. The authors reexamine these authors' arguments and find the logic of both analyses is flawed. The authors demonstrate that the use of specialized put option prices as proxies for equity risks yields ambiguous conclusions about equity risk changes at longer investment horizons. |
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