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Inflation and the Valuation of Corporate Equities
15 references·10 citing·46 second hop
Inflation and the Valuation of Corporate Equities (1981)Inflation and the Valuation of Corporate …Short- Term Interest Rates as Predictors of Inflation (2021)Short- Term Interest Rates as…The Nonadjustment of Nominal Interest Rates: A Study of the Fisher Effect (1982)The Nonadjustment of Nominal …Taxation and Corporate Investment: A q-Theory Approach (1981)Taxation and Corporate Invest…The Financial Valuation of the Return to Capital (1980)The Financial Valuation of th…Macroeconomics and Reality (1980)Macroeconomics and RealityDo Stock Prices Move Too Much to be Justified by Subsequent Changes in Dividends? (1980)Do Stock Prices Move Too Much…Inflation, Tax Rules, and the Stock Market (1979)Inflation, Tax Rules, and the…INFLATION AND THE TAXATION OF CAPITAL INCOME IN THE CORPORATE SECTOR (1979)INFLATION AND THE TAXATION OF…Analysis of Pension Funding Under Erisa (1979)Analysis of Pension Funding U…Inflation, Tax Rules, and the Long-Term Interest Rate (1978)Inflation, Tax Rules, and the…Inflation and the Income Tax (1978)Inflation and the Income TaxAsset returns and inflation (1977)Asset returns and inflationThe "Fisher Effect" for Risky Assets: An Empirical Investigation (1976)The "Fisher Effect" for Risky…Stocks, Bonds, Bills, and Inflation: Year-by-Year Historical Returns (1926-1974) (1976)Stocks, Bonds, Bills, and Inf…COMMON STOCKS AS A HEDGE AGAINST INFLATION (1976)COMMON STOCKS AS A HEDGE AGAI…The Debt-Inflation Channel of the German (Hyper)Inflation (2025)The Debt-Inflation Channel of…The Debt-Inflation Channel of the German Hyperinflation (2023)The Debt-Inflation Channel of…The Debt-Inflation Channel of the German (Hyper-)inflation (2022)The Debt-Inflation Channel of…Hedging inflation with individual US stocks: A long-run portfolio analysis (2016)Hedging inflation with indivi…Reexamining Stock Valuation and Inflation: The Implications of Analysts' Earnings Forecasts (2001)Reexamining Stock Valuation a…Stock Prices, Expected Returns, and Inflation (1999)Stock Prices, Expected Return…RESPONSE OF STOCK PRICES TO MONEY SUPPLY ANNOUNCEMENTS: AUSTRALIAN EVIDENCE (1993)RESPONSE OF STOCK PRICES TO M…Firm Characteristics, Unanticipated Inflation, and Stock Returns (1988)Firm Characteristics, Unantic…Inflation and corporate financial management (1984)Inflation and corporate finan…The Reaction of Stock Prices to Unanticipated Changes in Money (1982)The Reaction of Stock Prices …Dividend Policy, Growth, and the Valuation of Shares (1961)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Does the Stock Market Overreact? (1985)Noise Trader Risk in Financial Markets (1990)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Time Series Analysis, Forecasting, and Control (1995)Inflation, Rational Valuation and the Market (1979)Towards an understanding of the costs of inflation: II (1981)Inflation, real returns and capital investment (1982)Risk, Inflation, and the Stock Market (1983)The Decline of Inflation and the Bull Market of 1982-1999 (2002)PORTFOLIO SELECTION* (1952)Lifetime Portfolio Selection under Uncertainty: The Continuous-Time Case (1969)Optimum consumption and portfolio rules in a continuous-time model (1971)INFLATION AND RATES OF RETURN ON COMMON STOCKS (1976)Stock returns and inflation (1987)Virtual currency, tangible return: Portfolio diversification with bitcoin (2015)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Expected stock returns and volatility (1987)Efficient Capital Markets: II (1991)On the Relation between the Expected Value and the Volatility of the Nominal Excess Return on Stocks (1993)Pitfalls in Financial Model-Building (1968)Conditional logit analysis of qualitative choice behavior (1972)"Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule (1975)Time to Build and Aggregate Fluctuations (1982)Postwar U.S. Business Cycles: An Empirical Investigation (1997)Generalized impulse response analysis in linear multivariate models (1998)Survey of current business (1921)Taxation, Saving and the Rate of Interest (1976)Inflation and the Stock Market (1978)Inflation, Tax Rules, and Investment: Some Econometric Evidence (1980)Which Effective Tax Rate? (1983)Tax Reform and the Cost of Capital (1991)The Efficiency of the Market for Single-Family Homes (1988)Business conditions and expected returns on stocks and bonds (1989)Trading costs for listed options (1980)Investment Income and Profit Margins in Property-Liability Insurance: Theory and Empirical Results (1987)The Shrinking Equity Premium (1999)Real Business Cycles in a Small Open Economy (1991)Financing Investment (2001)Corporate social responsibility and access to finance (2013)The Relation Between Stock Prices and Inflationary Expectations: The International Evidence (1983)Asset Pricing and Expected Inflation (1986)Macro economy, stock market and oil prices: Do meaningful relationships exist among their cyclical fluctuations? (2010)
this work references cited by second hop

References

  • 1980Macroeconomics and Reality12,826 cited
  • 1980Do Stock Prices Move Too Much to be Justified by Subsequent Changes in Dividends?4,020 cited
  • 1977Asset returns and inflation2,701 cited
  • 2021Short- Term Interest Rates as Predictors of Inflation870 cited
  • 1981Taxation and Corporate Investment: A q-Theory Approach754 cited
  • 1976COMMON STOCKS AS A HEDGE AGAINST INFLATION697 cited
  • 1976The "Fisher Effect" for Risky Assets: An Empirical Investigation285 cited
  • 1982The Nonadjustment of Nominal Interest Rates: A Study of the Fisher Effect275 cited
  • 1976Stocks, Bonds, Bills, and Inflation: Year-by-Year Historical Returns (1926-1974)212 cited
  • 1979INFLATION AND THE TAXATION OF CAPITAL INCOME IN THE CORPORATE SECTOR165 cited
  • 1979Inflation, Tax Rules, and the Stock Market138 cited
  • 1978Inflation and the Income Tax113 cited
  • 1980The Financial Valuation of the Return to Capital106 cited
  • 1978Inflation, Tax Rules, and the Long-Term Interest Rate87 cited
  • 1979Analysis of Pension Funding Under Erisa42 cited

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  • 2016

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Hedging inflation with individual US stocks: A long-run portfolio analysis
37 cited
  • 1988Firm Characteristics, Unanticipated Inflation, and Stock Returns33 cited
  • 1999Stock Prices, Expected Returns, and Inflation33 cited
  • 1993RESPONSE OF STOCK PRICES TO MONEY SUPPLY ANNOUNCEMENTS: AUSTRALIAN EVIDENCE24 cited
  • 2001Reexamining Stock Valuation and Inflation: The Implications of Analysts' Earnings Forecasts24 cited
  • 1984Inflation and corporate financial management23 cited
  • 1982The Reaction of Stock Prices to Unanticipated Changes in Money22 cited
  • 2025The Debt-Inflation Channel of the German (Hyper)Inflation11 cited
  • 2022The Debt-Inflation Channel of the German (Hyper-)inflation11 cited
  • 2023The Debt-Inflation Channel of the German Hyperinflation11 cited