bubbles occur pay dividends after each trading day. In this paper we study whether bubbles can occur in markets without … dividends. We investigate the role of two features that are present in real markets. (1) The mere possibility that some traders … without dividends. Surprisingly, communication turns out to be counterproductive for bubble formation, whereas the possibility …

accounting, the earnings approach is viewed as identical to the discounted dividends approach. Empirical research, however …, typically finds that the two valuation approaches do not predict market prices equally well. This paper offers a theoretical … explanation for this apparent anomaly: expectations of discounted infinite sums (incomes, cash flows, or dividends) are undefined …

. Measures of liquidity and demand for dividends are associated with larger price increases in the period before the ex-day (when …

in the S&P 500 Composite Index for the period 1888-2001. We extend existing regime-switching models of speculative … existing models or a buy and hold strategy. …

behaviour can explain the dynamics of the S&P 500 Composite Index for the period 1888-2001. We extend existing two-regime models … examine whether other variables, beyond the deviation of actual prices from fundamental values can help predict the level and … adjusted returns and end of period wealth than those obtained from employing existing models or a buy and hold strategy. …

bubbles occur pay dividends after each trading day. In this paper we study whether bubbles can occur in markets without … dividends. We investigate the role of two features that are present in real markets. (1) The mere possibility that some traders … without dividends. Surprisingly, communication turns out to be counterproductive for bubble formation, whereas the possibility …

to allow for dividends in the closed-form model and the ANN. …

liability management. Equity duration, as derived from the use of traditional dividend discount models, results in extremely …