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Intrinsic Bubbles: The Case of Stock Prices: Comment
16 references·2 citing·36 second hop
Intrinsic Bubbles: The Case of Stock Prices: Comment (1999)Intrinsic Bubbles: The Case of Stock Pric…American Economic Review (2019)American Economic ReviewA Theory of Income and Dividend Smoothing Based on Incumbency Rents (1995)A Theory of Income and Divide…Target Zones and Exchange Rate Dynamics (1991)Target Zones and Exchange Rat…Firing Costs and Labour Demand: How Bad is Eurosclerosis? (1990)Firing Costs and Labour Deman…Cash Distributions to Shareholders (1989)Cash Distributions to Shareho…Dividend Behavior for the Aggregate Stock Market (1987)Dividend Behavior for the Agg…Brownian Motion and Stochastic Flow Systems. (1987)Brownian Motion and Stochasti…Stock Prices and Social Dynamics (1984)Stock Prices and Social Dynam…Exchange-Rate Dynamics (1983)Exchange-Rate DynamicsDividend variability and variance bounds tests for the rationality of stock market prices (1983)Dividend variability and vari…The Information Content of Dividends (1973)The Information Content of Di…DIVIDEND ANNOUNCEMENTS, SECURITY PERFORMANCE, AND CAPITAL MARKET EFFICIENCY (1972)DIVIDEND ANNOUNCEMENTS, SECUR…Dividend Policy: An Empirical Analysis (1968)Dividend Policy: An Empirical…The Investment, Financing, and Valuation of the Corporation (1963)The Investment, Financing, an…Dividend Policy, Growth, and the Valuation of Shares (1961)Dividend Policy, Growth, and …DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)DISTRIBUTION OF INCOMES OF CO…House Prices and Bubbles in New Zealand (2007)House Prices and Bubbles in N…U.S. stock prices and macroeconomic fundamentals (2003)U.S. stock prices and macroec…Asset returns and inflation (1977)Stock Returns and the Term Structure (1985)Noise (1986)Predicting returns in the stock and bond markets (1986)Good Day Sunshine: Stock Returns and the Weather (2003)Expected Stock Returns and Variance Risk Premia (2009)Planning Production, Inventories, and Work Force. (1962)Estimation of Dynamic Labor Demand Schedules under Rational Expectations (1978)Entry and Exit Decisions under Uncertainty (1989)Hysteresis, Import Penetration, and Exchange Rate Pass-Through (1989)Job Turnover and Policy Evaluation: A General Equilibrium Analysis (1993)Social Foundations of Postindustrial Economies (1999)Earnings Management in an Overlapping Generations Model (1988)Loan loss provisioning and economic slowdowns: too much, too late? (2003)The Politician and the Judge: Accountability in Government (2004)Credit Cycles, Credit Risk, and Prudential Regulation (2005)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Behavior of Stock-Market Prices (1965)The Pricing of Options and Corporate Liabilities (1973)Determinants of corporate borrowing (1977)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)The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors (1988)Predicting Excess Stock Returns Out of Sample: Can Anything Beat the Historical Average? (2007)The capital asset pricing model: Some empirical tests (1972)Risk, Return, and Equilibrium: Empirical Tests (1973)Quarterly Dividend and Earnings Announcements and Stockholders' Returns: An Empirical Analysis (1980)Time-changed Lévy processes and option pricing (2003)Selection, Growth, and the Size Distribution of Firms (2007)A Continuous-Time Version of the Principal–Agent Problem (2008)No Single Currency Regime is Right for All Countries or At All Times (1999)Official Intervention in the Foreign Exchange Market: Is It Effective and, If So, How Does It Work? (2001)The Trilemma in History: Tradeoffs Among Exchange Rates, Monetary Policies, and Capital Mobility (2004)The Capital Structure Puzzle (1984)Upper Echelons: The Organization as a Reflection of Its Top Managers (1984)The Relational View: Cooperative Strategy and Sources of Interorganizational Competitive Advantage (1998)The Promise of Entrepreneurship as a Field of Research (2000)
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References

  • 2019American Economic Review10,902 cited
  • 1961Dividend Policy, Growth, and the Valuation of Shares6,554 cited
  • 1956DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES3,426 cited
  • 1984Stock Prices and Social Dynamics1,615 cited
  • 1990Firing Costs and Labour Demand: How Bad is Eurosclerosis?1,374 cited
  • 1987Brownian Motion and Stochastic Flow Systems.1,091 cited
  • 1991Target Zones and Exchange Rate Dynamics1,089 cited
  • 1963The Investment, Financing, and Valuation of the Corporation958 cited
  • 1968Dividend Policy: An Empirical Analysis933 cited
  • 1995A Theory of Income and Dividend Smoothing Based on Incumbency Rents763 cited
  • 1972DIVIDEND ANNOUNCEMENTS, SECURITY PERFORMANCE, AND CAPITAL MARKET EFFICIENCY690 cited
  • 1973The Information Content of Dividends643 cited
  • 1983Dividend variability and variance bounds tests for the rationality of stock market prices435 cited
  • 1989Cash Distributions to Shareholders332 cited
  • 1987Dividend Behavior for the Aggregate Stock Market305 cited
  • 1983Exchange-Rate Dynamics

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  • 2007House Prices and Bubbles in New Zealand69 cited
  • 2003U.S. stock prices and macroeconomic fundamentals32 cited