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Salience and asset prices

Bordalo, Pedro; Gennaioli, Nicola; Shleifer, Andrei - In: The American economic review 103 (2013) 3, pp. 623-628

Persistent link: https://www.econbiz.de/10009768614

Salience and asset prices

Bordalo, Pedro; Gennaioli, Nicola; Shleifer, Andrei - 2013

Persistent link: https://www.econbiz.de/10009711774

Salience and Asset Prices

Bordalo, Pedro - 2015

We present a simple model of asset pricing in which payoff salience drives investors' demand for risky assets. The key implication is that extreme payoffs receive disproportionate weight in the market valuation of assets. The model accounts for several puzzles in finance in an intuitive way,...

Persistent link: https://www.econbiz.de/10013036068

Salience and Asset Prices

Bordalo, Pedro - 2013

Persistent link: https://www.econbiz.de/10012459953

Costs of financial distress, delayed calls of convertible bonds, and the role of investment banks

Jaffee, Dwight M.; Shleifer, Andrei - 1988

Persistent link: https://www.econbiz.de/10000753893

Costs of financial distress, delayed calls of convertible bonds, and the role of investment banks

Jaffee, Dwight M.

Persistent link: https://www.econbiz.de/10001274010

Costs Of Financial Distress, Delayed Calls Of Convertible Bonds, And The Role Of Investment Banks

Jaffee, Dwight - 1988

conversion, sometimes for years, beyond this time. We show that the observed delays can be plausibly explained in terms of costs … falls to account for the costs of financial distress, in which case tendering for cash is in fact optimal. Unlike other … explanations of delayed forced conversion, we can explain the common use of investment banks to underwrite these transactions …

Persistent link: https://www.econbiz.de/10012476509