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The Optimality of a Competitive Stock Market
12 references·3 citing·32 second hop
The Optimality of a Competitive Stock Market (1974)The Optimality of a Competitive Stock Mar…Procedures for capital budgeting under uncertainty (2011)Procedures for capital budget…The cost of capital, corporation finance and the theory of investment (2008)The cost of capital, corporat…An Intertemporal Capital Asset Pricing Model (1973)An Intertemporal Capital Asse…WEALTH, WELFARE, AND THE PRICE OF RISK (1972)WEALTH, WELFARE, AND THE PRIC…On the Optimality of the Stock Market Allocation of Investment (1972)On the Optimality of the Stoc…Corporate Investment under Uncertainty and Pareto Optimality in the Capital Markets (1972)Corporate Investment under Un…Asset Valuation, Firm Investment, and Firm Diversification (1972)Asset Valuation, Firm Investm…General competitive analysis (1971)General competitive analysisGeneral Proof that Diversification Pays (1967)General Proof that Diversific…An Extension of the Lechatelier Principle (1960)An Extension of the Lechateli…Theory of Value (1959)Theory of ValueThe Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Cost of Capital, Corporat…International Portfolio Investment: Theory, Evidence, and Institutional Framework (2001)International Portfolio Inves…Chapter 13 On the microeconomic theory of investment under uncertainty (1982)Chapter 13 On the microeconom…THE ROLE OF THE MULTINATIONAL FIRM IN THE INTEGRATION OF SEGMENTED CAPITAL MARKETS (1977)THE ROLE OF THE MULTINATIONAL…The Theory of Value (1892)The Application of Finance Theory to Public Utility Rate Cases (1972)Estimating the Divisional Cost of Capital: An Analysis of the Pure-Play Technique (1981)Changes in the Financial Market: Welfare and Price Effects and the Basic Theorems of Value Conservation (1982)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)On the Theory of the Firm in an Economy with Incomplete Markets (1974)Production Theory and the Stock Market (1974)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)Monopolistic Competition in a Large Economy with Differentiated Commodities (1979)Liquidity Preference as Behavior Towards Risk (1958)ON THE THEORY OF FINANCIAL INTERMEDIATION (1971)Mutual fund separation in financial theory—The separating distributions (1978)On the Class of Elliptical Distributions and their Applications to the Theory of Portfolio Choice (1983)DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)The Pricing of Options and Corporate Liabilities (1973)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Law and Finance (1998)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Conditional Heteroskedasticity in Asset Returns: A New Approach (1991)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)Equity, envy, and efficiency (1974)Economic Analysis of Social Interactions (2000)The Economics and Psychology of Personality Traits (2008)Investment Under Private Ownership: Optimality, Equilibrium and Stability (1974)Approaches to the Economics of Discrimination (2025)Theories of Corporate Debt Policy: A Synthesis (1979)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)The Capital Structure Puzzle (1984)A Survey of Corporate Governance (1997)Agency Problems and Residual Claims (1983)Well-being : the foundations of hedonic psychology (1999)
this work references cited by second hop

References

  • 1958The Cost of Capital, Corporation Finance and the Theory of Investment14,494 cited
  • 2008The cost of capital, corporation finance and the theory of investment8,614 cited
  • 1973An Intertemporal Capital Asset Pricing Model6,557 cited
  • 1971General competitive analysis2,942 cited
  • 1959Theory of Value2,538 cited
  • 1967General Proof that Diversification Pays377 cited
  • 1972On the Optimality of the Stock Market Allocation of Investment207 cited
  • 1972Asset Valuation, Firm Investment, and Firm Diversification123 cited
  • 1972Corporate Investment under Uncertainty and Pareto Optimality in the Capital Markets107 cited
  • 2011Procedures for capital budgeting under uncertainty83 cited
  • 1960An Extension of the Lechatelier Principle82 cited
  • 1972WEALTH, WELFARE, AND THE PRICE OF RISK25 cited

Cited by

  • 2001International Portfolio Investment: Theory, Evidence, and Institutional Framework29 cited
  • 1982Chapter 13 On the microeconomic theory of investment under uncertainty28 cited
  • 1977THE ROLE OF THE MULTINATIONAL FIRM IN THE INTEGRATION OF SEGMENTED CAPITAL MARKETS20 cited

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