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Asset Pricing A Structural Theory And Its Applications Bing Cheng

Name: Asset Pricing A Structural Theory And Its Applications Bing Cheng
SKU: BELL-4432738
Price: 31.00 USD
Availability: InStock
Rating: 5 (80 reviews)

SKU: BELL-4432738

$ 31.00 ~~$ 45.00~~ (-31%)

5.0

80 reviews

Asset Pricing A Structural Theory And Its Applications Bing Cheng instant download after payment.

Publisher: World Scientific Publishing Company

File Extension: PDF

File size: 3.27 MB

Pages: 92

Author: Bing Cheng, Howell Tong

ISBN: 9789812704559, 9812704558

Language: English

Year: 2008

Product desciption

Asset Pricing A Structural Theory And Its Applications Bing Cheng by Bing Cheng, Howell Tong 9789812704559, 9812704558 instant download after payment.

Modern asset pricing models play a central role in finance and economic theory and applications. This book introduces a structural theory to evaluate these asset pricing models and throws light on the existence of Equity Premium Puzzle. Based on the structural theory, some algebraic (valuation-preserving) operations are developed in asset spaces and pricing kernel spaces. This has a very important implication leading to practical guidance in portfolio management and asset allocation in the global financial industry. The book also covers topics, such as the role of over-confidence in asset pricing modeling, relationship of the portfolio insurance with option and consumption-based asset pricing models, etc.

Contents: Introduction to Modern Asset Pricing; A Structural Theory of Asset Pricing; Algebra of Stochastic Discount Factors; Investment and Consumption in a Multi-Period Framework.