The Conformity of Stock Values Based on Discounted Dividends to a Fair-Return Process

This paper derives necessary and sufficient conditions for the conformity of properly anticipated stock prices to a fair-return process in the framework of a discounted-dividend valuation model when the appropriate fair-return to any given future time period is itself a random variable.

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Year of publication:	1975
Authors:	Stone, Bernell K.
Published in:	Bell Journal of Economics. - The RAND Corporation, ISSN 0361-915X. - Vol. 6.1975, 2, p. 698-702
Publisher:	The RAND Corporation

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005133291