84,89 €
The Consequences of Short-Sale Constraints on the Stability of Financial Markets
The Consequences of Short-Sale Constraints on the Stability of Financial Markets
  • Sold out
The Consequences of Short-Sale Constraints on the Stability of Financial Markets
The Consequences of Short-Sale Constraints on the Stability of Financial Markets
El. knyga:
84,89 €
Gevorg Hunanyan develops a model that provides a comprehensive theoretical framework to study the consequences of short-sale constraints on the stability of financial markets. This model shows that overpricing of securities is solely attributable to the subjective second moment beliefs of investors. Thus, short-sale constraints prevent a market decline only if investors have low dispersion of beliefs, which in the model is embodied in the covariance matrix. Moreover, the author analyses the con…

The Consequences of Short-Sale Constraints on the Stability of Financial Markets (e-book) (used book) | bookbook.eu

Reviews

There are no ratings.
Rate it too! All reviews

Description

Gevorg Hunanyan develops a model that provides a comprehensive theoretical framework to study the consequences of short-sale constraints on the stability of financial markets. This model shows that overpricing of securities is solely attributable to the subjective second moment beliefs of investors. Thus, short-sale constraints prevent a market decline only if investors have low dispersion of beliefs, which in the model is embodied in the covariance matrix. Moreover, the author analyses the consequences of short-sale constraints on the investor's portfolio selection, risk-taking behaviour as well as default probability. The author develops criteria that allow to analyse the effectiveness of short-sale constraints in reducing portfolio risk as well as default risk.

84,89 €
Log in and for this item
you will receive 0,85 Book Euros! ?

Electronic book:
Delivery after ordering is instant! Intended for reading only on a computer, tablet or other electronic device.

Lowest price in 30 days: 84,89 €

Lowest price recorded: Price has not changed


Gevorg Hunanyan develops a model that provides a comprehensive theoretical framework to study the consequences of short-sale constraints on the stability of financial markets. This model shows that overpricing of securities is solely attributable to the subjective second moment beliefs of investors. Thus, short-sale constraints prevent a market decline only if investors have low dispersion of beliefs, which in the model is embodied in the covariance matrix. Moreover, the author analyses the consequences of short-sale constraints on the investor's portfolio selection, risk-taking behaviour as well as default probability. The author develops criteria that allow to analyse the effectiveness of short-sale constraints in reducing portfolio risk as well as default risk.

Reviews

  • No reviews
0 customers have rated this item.
5
0%
4
0%
3
0%
2
0%
1
0%
(will not be displayed)