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AA / International- internationaal --- 333.600 --- 333.632.0 --- 333.631 --- NBB multivolumes --- Financiële markten. Kapitaalmarkten (algemeenheden). --- Obligaties: algemeenheden. --- Overheidsfondsen. Markt van de overheidsfondsen. --- 336.76 --- Beurswezen. Geldmarkt. Valutamarkt. Binnenlandse geldmarkt. Valutamarkt --- Bond market --- Bonds --- -Fixed-income securities --- Interest rates --- Investments --- Investing --- Investment management --- Portfolio --- Finance --- Disinvestment --- Loans --- Saving and investment --- Speculation --- Money market rates --- Rate of interest --- Rates, Interest --- Interest --- Fixed-income investments --- Fixed-income securities --- Investments, Fixed-income --- Securities, Fixed-income --- Securities --- Bond issues --- Debentures --- Negotiable instruments --- Debts, Public --- Stocks --- Bond markets --- Market, Bond --- Capital market --- Mathematical models --- Law and legislation --- Bond market. --- Fixed-income securities. --- Interest rates. --- Investments. --- Mathematical models. --- -Bond market --- 332.6323 --- 336.76 Beurswezen. Geldmarkt. Valutamarkt. Binnenlandse geldmarkt. Valutamarkt --- Financiële markten. Kapitaalmarkten (algemeenheden) --- Overheidsfondsen. Markt van de overheidsfondsen --- Obligaties: algemeenheden
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Finance --- Efficient market theory --- 332.01 --- Market theory, Efficient --- Capital market --- Stock exchanges --- Funding --- Funds --- Economics --- Currency question --- Efficient market theory. --- Finance. --- 305.93 --- Econometrie van het gedrag van de overheid, van de uitgaven en ontvangsten van de overheid, van de begroting. Econometrie van de belastingen. --- 333.602 --- 339.4 --- AA / International- internationaal --- Econometrie van het gedrag van de overheid, van de uitgaven en ontvangsten van de overheid, van de begroting. Econometrie van de belastingen --- Activiteiten en evolutie van de financiële markten --- Vermogensbeheer. Financiële analyse. Verspreiding van de beleggingsrisico's --- Economic schools
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We can only estimate the distribution of stock returns but we observe the distribution of risk neutral state prices. Risk neutral state prices are the product of risk aversion – the pricing kernel – and the natural probability distribution. The Recovery Theorem enables us to separate these and to determine the market's forecast of returns and the market's risk aversion from state prices alone. Among other things, this allows us to determine the pricing kernel, the market risk premium, the probability of a catastrophe, and to construct model free tests of the efficient market hypothesis.
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Neoclassical Finance provides a concise and powerful account of the underlying principles of modern finance, drawing on a generation of theoretical and empirical advances in the field. Stephen Ross developed the no arbitrage principle, tying asset pricing to the simple proposition that there are no free lunches in financial markets, and jointly with John Cox he developed the related concept of risk-neutral pricing. In this book Ross makes a strong case that these concepts are the fundamental pillars of modern finance and, in particular, of market efficiency. In an efficient market prices reflect the information possessed by the market and, as a consequence, trading schemes using commonly available information to beat the market are doomed to fail. By stark contrast, the currently popular stance offered by behavioral finance, fueled by a number of apparent anomalies in the financial markets, regards market prices as subject to the psychological whims of investors. But without any appeal to psychology, Ross shows that neoclassical theory provides a simple and rich explanation that resolves many of the anomalies on which behavioral finance has been fixated. Based on the inaugural Princeton Lectures in Finance, sponsored by the Bendheim Center for Finance of Princeton University, this elegant book represents a major contribution to the ongoing debate on market efficiency, and serves as a useful primer on the fundamentals of finance for both scholars and practitioners.
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Finance. --- Efficient market theory. --- Finances --- Marché efficient, Hypothèse du
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Corporate finance --- Corporations --- Sociétés --- Finance --- Finances --- Finance. --- 000.1 --- 658.14 --- Algemene werken --- Bedrijfsfinanciering --- Sociétés --- Business finance --- Capitalization (Finance) --- Corporate financial management --- Corporation finance --- Financial analysis of corporations --- Financial management, Corporate --- Financial management of corporations --- Financial planning of corporations --- Managerial finance --- Going public (Securities) --- Corporations - Finance --- Corporations - Finance.
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