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Irrational Exuberance Reconsidered: The Cross Section of Stock Returns - Springer Finance (Hardback)
  • Irrational Exuberance Reconsidered: The Cross Section of Stock Returns - Springer Finance (Hardback)
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Irrational Exuberance Reconsidered: The Cross Section of Stock Returns - Springer Finance (Hardback)

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£129.99
Hardback 230 Pages / Published: 20/01/2004
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Mathias Kulpmann presents a framework to evaluate whether the stock market is in line with underlying fundamentals. The new and revised edition offers an up to date introduction to the controversy between rational asset pricing and behavioural finance. Empirical evidence of stock market overreaction are investigated within the paradigms of rational asset pricing and behavioural finance. Although this monograph will not promise the reader to become a millionaire, it offers a road to obtain a deeper understanding of the forces which drive stock returns. It should be of interest to anyone interested in what drives performance in the stock market.

Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
ISBN: 9783540140078
Number of pages: 230
Weight: 1170 g
Dimensions: 235 x 155 x 15 mm
Edition: 2nd ed. 2004


MEDIA REVIEWS

From the reviews of the second edition:

"This book provides a highly stimulating contribution to the controversial discussion on stock return predictability, combining theory, thorough empirical analysis and feedback from security analysts." Gunter Franke, Professor of International Finance, Chairman of the Center of Finance and Econometrics, University of Konstanz

"Irrational Exuberance Reconsidered takes a look at current turmoils in the stock market and provides an up to date discussion of the underlying issues." Harris Schlesinger, Professor of Finance and Frank Park Samford Chair of Insurance, University of Alabama

"State of the art analysis and new insights into the interaction between fundamentals and the stock market. Anybody interested in stock market overreaction should have a look." Winfried Pohlmeier, Professor of Economics and Econometrics, Research Professor at the Center of European Economic Research (ZEW)

"Compelling and intriguing: an interesting read for academics and practitioners alike. Current outlook: A strong buy." Dieter Hess, Professor of Finance, Hochschule fur Bankwirtschaft, Frankfurt

"Combining academic research with practical experience, this book offers a new concept of a research monograph." Erik Luders, Professor of Finance, Universite Laval, Quebec, and Visiting Scholar, Leonard N. Stern School of Business, New York University

"The present monograph investigates the so-called Winner-Loser Effect (WLE) and the questions, whether it may occur in rational pricing theory or is due to irrational behavior ... . In my view, this book on finance has impact on the modeling ... . Furthermore, the introductory review is from my understanding nice ... . each unit within the monograph has an own introduction, outline and summary and can be read independently ... . In conclusion, an interesting start for further research." (Andreas Bartel, Zentralblatt MATH, Vol. 1089 (15), 2006)

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