Rethinking the Equity Risk Premium
Title | Rethinking the Equity Risk Premium PDF eBook |
Author | P. Brett Hammond |
Publisher | |
Total Pages | 154 |
Release | 2011-12 |
Genre | Investments |
ISBN | 9781934667446 |
Rethinking the Equity Risk Premium
Title | Rethinking the Equity Risk Premium PDF eBook |
Author | P. Brett Hammond |
Publisher | |
Total Pages | 164 |
Release | 2016 |
Genre | |
ISBN |
In 2001, a small group of academics and practitioners met to discuss the equity risk premium (ERP). Ten years later, in 2011, a similar discussion took place, with participants writing up their thoughts for this volume. The result is a rich set of papers that practitioners may find useful in developing their own approach to the subject.
The Equity Risk Premium: A Contextual Literature Review
Title | The Equity Risk Premium: A Contextual Literature Review PDF eBook |
Author | Laurence B. Siegel |
Publisher | CFA Institute Research Foundation |
Total Pages | 30 |
Release | 2017-12-08 |
Genre | Business & Economics |
ISBN | 1944960325 |
Research into the equity risk premium, often considered the most important number in finance, falls into three broad groupings. First, researchers have measured the margin by which equity total returns have exceeded fixed-income or cash returns over long historical periods and have projected this measure of the equity risk premium into the future. Second, the dividend discount model—or a variant of it, such as an earnings discount model—is used to estimate the future return on an equity index, and the fixed-income or cash yield is then subtracted to arrive at an equity risk premium expectation or forecast. Third, academics have used macroeconomic techniques to estimate what premium investors might rationally require for taking the risk of equities. Current thinking emphasizes the second, or dividend discount, approach and projects an equity risk premium centered on 3½% to 4%.
The Equity Risk Premium
Title | The Equity Risk Premium PDF eBook |
Author | Bradford Cornell |
Publisher | John Wiley & Sons |
Total Pages | 248 |
Release | 1999-05-26 |
Genre | Business & Economics |
ISBN | 9780471327356 |
Das Thema Risikoprämie für Aktien (Equity Risk Premium) wird hier zum ersten Mal verständlich erklärt. Die Risikoprämie für Aktien stellt einen Renditeausgleich dar für das erhöhte Risiko, das ein Anleger bei der Investition in Aktien eingeht, im Vergleich zu einer Investition in risikofreie Staatsanleihen. Die Risikoprämie ist zwar von der Theorie her einfach, jedoch in der Praxis ein sehr komplexes Phänomen. Für Finanzentscheidungen ist es von größter Bedeutung, daß man das Prinzip der Risikoprämie versteht und es anwenden kann. Cornell erläutert das Thema Schritt für Schritt sehr anschaulich und ohne terminologischen Ballast. Zunächst wird die Risikoprämie im Zusammenhang mit der Geschichte des Aktienmarktes betrachtet. Der Haussemarkt der 90er dient dabei als Fallstudie. Cornell zeigt, welche Rückschlüsse man durch die Analyse der Risikoprämie im historischen Verlauf für den Aktienmarkt ziehen kann, z.B. ob Aktienkurse steigen oder fallen oder ob sich der Aktienmarkt verändert. Vorausschauende Schätzungen der Risikoprämie werden anhand verschiedener konkurrierender Modelle analysiert, wobei die Vorzüge der jeweiligen Methode mitbewertet werden. 'Equity Risk Premium' ist das erste Buch, das dieses wichtige Prinzip der Risiko-Nutzen-Analyse erschöpfend behandelt. Es vermittelt einen tiefen Einblick und deckt alle Grundlagen ab, damit Investoren fundierte Finanzentscheidungen treffen können. Ein absolutes Muß für institutionelle Anleger, Geldmanager und Finanzvorstände, die auf eine fundierte Marktanalyse zurückgreifen müssen. (06/99)
The Equity Risk Premium
Title | The Equity Risk Premium PDF eBook |
Author | William N. Goetzmann |
Publisher | Oxford University Press |
Total Pages | 568 |
Release | 2006-11-16 |
Genre | Business & Economics |
ISBN | 0195148142 |
This book aims to create a strong understanding of the empirical basis for the equity risk premium. Through the research and anaylsis of two scholars who are experts in this field, this volume presents the key issues that are paramount to investors, including whether or not to use historical data as a method of equity investing, and can the equity premium reflect changes in fundamental values and cash flows of the market.
Rethinking the Equity Risk Premium
Title | Rethinking the Equity Risk Premium PDF eBook |
Author | P. Brett Hammond |
Publisher | |
Total Pages | 164 |
Release | 2016 |
Genre | |
ISBN |
In 2001, a small group of academics and practitioners met to discuss the equity risk premium (ERP). Ten years later, in 2011, a similar discussion took place, with participants writing up their thoughts for this volume. The result is a rich set of papers that practitioners may find useful in developing their own approach to the subject.
Handbook of the Equity Risk Premium
Title | Handbook of the Equity Risk Premium PDF eBook |
Author | Rajnish Mehra |
Publisher | Elsevier |
Total Pages | 635 |
Release | 2011-08-11 |
Genre | Business & Economics |
ISBN | 0080555853 |
Edited by Rajnish Mehra, this volume focuses on the equity risk premium puzzle, a term coined by Mehra and Prescott in 1985 which encompasses a number of empirical regularities in the prices of capital assets that are at odds with the predictions of standard economic theory.