Irrational Exuberance Reconsidered

The Cross Section of Stock Returns

Mathias Külpmann - Collection Springer Finance

230 pages, parution le 10/02/2004 (2^eme édition)

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Résumé

Does the stock market overreact? Recent capital market turbulences have cast doubt whether the behaviour of stock markets is in line with rational investor behaviour. To which extent stock returns are predictable is the question at the heart of the controversy between the paradigms of rational asset pricing and behavioural finance. This new and revised edition discusses the empirical evidence from both perspectives. Theory and empirical analysis are blended with feedback from security analysts to offer a road towards a deeper understanding of the underlying forces to drive performance in the stock market. In his book Irrational Exuberance Robert Shiller offered an analysis of the US stock market in 2000. The focus of his book was the level of the stock market, which he thought to be overvalued at the time. This monograph offers a complementary analysis of the cross section of stock returns.

Written for:
Researchers, practitioners

Sommaire

I Irrational Exuberance Reconsidered
- Stock Market Overreaction and Portfolio Management - An Interview with Barbara Rega, CFA, and Bernd Meyer, CFA
- Scope of Analysis
II Overshooting in the Cross Section of Stock Returns: The Winner-Loser Effect
- Literature
- .1 The Winner-Loser Hypothesis and the Dataset
III Explaining the Cross Section of Stock Returns: CAPM versus Fundamentals
- Explaining the Winner-Loser Effect: Theory
- The CAPM and the Winner-Loser Effect
- Fundamentals and the Winner-Loser Effect
- Fundamentals versus Beta - What Drives Stock Returns?
IV Corporate Control -
- Reversals in Stock Returns and Temporary Problems of Corporate Control
- Index

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Springer
Auteur(s)	Mathias Külpmann
Collection	Springer Finance
Parution	10/02/2004
Édition	2^eme édition
Nb. de pages	230
Format	16 x 24
Couverture	Relié
Poids	480g
Intérieur	Noir et Blanc
EAN13	9783540140078