Jagannathan, Ravi; Marakani, Srikant; Takehara, Hitoshi; … - In: Management Science 58 (2012) 3, pp. 507-522
We show that when investors review their consumption and investment plans infrequently at different points in time with interim information flows, the standard consumption-based capital asset pricing model (CCAPM) will continue to hold only at those points in time when all investors review their...