Showing 1 - 10 of 74
Persistent link: https://www.econbiz.de/10003334673
Asset pricing models with atomistic agents typically relax assumptions concerning rationality and/or homogenous information in order to track endogenous bubbles. In this model, identically informed rational agents hold a Perceived Law of Motion (PLM) for a single new technology asset at IPO, yet...
Persistent link: https://www.econbiz.de/10009152757
This paper presents an equity market where the value of a new technology is infrequently observable while the equity claim of the asset is continuously traded. We clear the stock market between two optimal asset allocation strategies, speculative vs. fundamental, adopted by risk-averse investors...
Persistent link: https://www.econbiz.de/10009156248
Persistent link: https://www.econbiz.de/10010198273
Pro forma estimation of financial statements often builds on constant ratios to sales revenue. While constant ratios may be relevant for established firms operating in predictable industries, they yield noninformative and possibly misleading information when applied to new firms, and...
Persistent link: https://www.econbiz.de/10010345094
Persistent link: https://www.econbiz.de/10010463555
Persistent link: https://www.econbiz.de/10001981775
Persistent link: https://www.econbiz.de/10012631804
Asset pricing models with atomistic agents typically relax assumptions concerning rationality and/or homogenous information in order to track endogenous bubbles. In this model, identically informed rational agents hold a Perceived Law of Motion (PLM) for a single new technology asset at IPO, yet...
Persistent link: https://www.econbiz.de/10009958372
This paper presents an equity market where the value of a new technology is infrequently observable while the equity claim of the asset is continuously traded. We clear the stock market between two optimal asset allocation strategies, speculative vs. fundamental, adopted by risk-averse investors...
Persistent link: https://www.econbiz.de/10009958437