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Bordeaux Wine as a Financial Investment
16 references·16 citing·33 second hopsampled
Bordeaux Wine as a Financial Investment (2008)Bordeaux Wine as a Financial InvestmentFundamentals of Corporate Finance (2018)Fundamentals of Corporate Fin…What explains Bordeaux wine prices? (2004)What explains Bordeaux wine p…Wine market prices and investment under uncertainty: an econometric model for Bordeaux Crus Classés (2001)Wine market prices and invest…Wine market prices and investment under uncertainty: an econometric model for Bordeaux Crus Classés (2001)Wine market prices and invest…The Rate of Return on Investment in Wine (2001)The Rate of Return on Investm…Estimation of a hedonic price equation for Burgundy wine (2000)Estimation of a hedonic price…Measuring Returns on Investments in Collectibles (1999)Measuring Returns on Investme…Estimation of a Hedonic Price Equation for Bordeaux Wine: Does Quality Matter? (1997)Estimation of a Hedonic Price…Revisiting Baumol's ‘art as floating crap game’ (1993)Revisiting Baumol's ‘art as f…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…Art as an investment: The market for modern prints (1993)Art as an investment: The mar…Accounting for taste: Art and the financial markets over three centuries (1993)Accounting for taste: Art and…The Cross-Section of Expected Stock Returns (1992)The Cross-Section of Expected…Unnatural Value: Or Art Investment as Floating Crap Game (1985)Unnatural Value: Or Art Inves…The Rate of Return to Storing Wines (1979)The Rate of Return to Storing…The Investment, Financing, and Valuation of the Corporation (1963)The Investment, Financing, an…Volatility spillovers between fine wine and major global markets during COVID-19: A portfolio hedging strategy for investors (2022)Volatility spillovers between…Fine wine returns: a review of the literature (2019)Fine wine returns: a review o…Is wine a good choice for investment? (2018)Is wine a good choice for inv…Wine indices in practice: Nicely labeled but slightly corked (2017)Wine indices in practice: Nic…The Law of One Price? Price Dispersion on the Auction Market for Fine Wine (2017)The Law of One Price? Price D…Red obsession: The ascent of fine wine in China (2016)Red obsession: The ascent of …Fine Wines and Stocks from the Perspective of UK Investors: Hedge or Safe Haven? (2016)Fine Wines and Stocks from th…Wine: To drink or invest in? A study of wine as an investment asset in French portfolios (2015)Wine: To drink or invest in? …Wine Funds: An Alternative Turning Sour? (2015)Wine Funds: An Alternative Tu…Machine Learning in Fine Wine Price Prediction (2015)Machine Learning in Fine Wine…Dynamics of fine wine and asset prices: evidence from short- and long-run co-movements (2015)Dynamics of fine wine and ass…To Save or Savor: A Review of Approaches for Measuring Wine as an Investment (2014)To Save or Savor: A Review of…Beyond the negative relation between return and conditional volatility in the wine market (2014)Beyond the negative relation …RETURN TO WINE: A COMPARISON OF THE HEDONIC, REPEAT SALES AND HYBRID APPROACHES (2011)RETURN TO WINE: A COMPARISON …Wine Investment and Portfolio Diversification Gains (2010)Wine Investment and Portfolio…Raise your Glass: Wine Investment and the Financial Crisis (2010)Raise your Glass: Wine Invest…Investigating Causal Relations by Econometric Models and Cross-spectral Methods (1969)Muses and Markets: Explorations in the Economics of the Arts (1989)Buying Beauty: On Prices and Returns in the Art Market (2012)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Risk, Return, and Equilibrium: Empirical Tests (1973)On Persistence in Mutual Fund Performance (1997)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)3. Hedonic Price Indexes for Automobiles: An Econometric Analysis of Quality Change (1971)Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition (1974)Specification Tests in Econometrics (1978)Quality Expectations, Reputation, and Price (1998)Using simulations from discrete choice experiments to measure consumer sensitivity to brand, region, price, and awards in wine choice (2005)Eco-Labeling Strategies and Price-Premium (2010)Bordeaux Wine Vintage Quality and the Weather (1995)Hedonic Wine Price Functions and Measurement Error (2001)Applying best‐worst scaling to wine marketing (2009)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Two new Later Stone Age sites from the Final Pleistocene in the Falémé Valley, eastern Senegal (2024)The Life of John Maynard Keynes (1951)The relevance of hedonic price indices (1996)Entertainment industry economics: a guide for financial analysis (2007)Art as a Financial Investment (2008)Auctions and the Price of Art (2003)Art as an Investment and Conspicuous Consumption Good (2009)Art and Money (2011)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 Influence of Organizational Acquisition Experience on Acquisition Performance: A Behavioral Learning Perspective (1999)The Relationship Between Corporate Philanthropy And Shareholder Wealth: A Risk Management Perspective (2005)The relationship between corporate social responsibility and shareholder value: an empirical test of the risk management hypothesis (2008)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1992The Cross-Section of Expected Stock Returns17,320 cited
  • 2018Fundamentals of Corporate Finance1,477 cited
  • 1963The Investment, Financing, and Valuation of the Corporation958 cited
  • 1997Estimation of a Hedonic Price Equation for Bordeaux Wine: Does Quality Matter?500 cited
  • 1985Unnatural Value: Or Art Investment as Floating Crap Game377 cited
  • 1993Accounting for taste: Art and the financial markets over three centuries368 cited
  • 1993Art as an investment: The market for modern prints335 cited
  • 1993Revisiting Baumol's ‘art as floating crap game’198 cited
  • 2000Estimation of a hedonic price equation for Burgundy wine177 cited
  • 2001Wine market prices and investment under uncertainty: an econometric model for Bordeaux Crus Classés167 cited
  • 2001Wine market prices and investment under uncertainty: an econometric model for Bordeaux Crus Classés166 cited
  • 1999Measuring Returns on Investments in Collectibles161 cited
  • 2004What explains Bordeaux wine prices?120 cited
  • 2001The Rate of Return on Investment in Wine113 cited

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1979
The Rate of Return to Storing Wines
101 cited

Cited by

  • 2022Volatility spillovers between fine wine and major global markets during COVID-19: A portfolio hedging strategy for investors64 cited
  • 2010Wine Investment and Portfolio Diversification Gains62 cited
  • 2016Red obsession: The ascent of fine wine in China52 cited
  • 2017The Law of One Price? Price Dispersion on the Auction Market for Fine Wine48 cited
  • 2018Is wine a good choice for investment?42 cited
  • 2015Dynamics of fine wine and asset prices: evidence from short- and long-run co-movements41 cited
  • 2019Fine wine returns: a review of the literature39 cited
  • 2014To Save or Savor: A Review of Approaches for Measuring Wine as an Investment33 cited
  • 2015Wine Funds: An Alternative Turning Sour?32 cited
  • 2015Machine Learning in Fine Wine Price Prediction31 cited
  • 2011RETURN TO WINE: A COMPARISON OF THE HEDONIC, REPEAT SALES AND HYBRID APPROACHES30 cited
  • 2014Beyond the negative relation between return and conditional volatility in the wine market30 cited
  • 2010Raise your Glass: Wine Investment and the Financial Crisis29 cited
  • 2017Wine indices in practice: Nicely labeled but slightly corked28 cited
  • 2015Wine: To drink or invest in? A study of wine as an investment asset in French portfolios28 cited
  • 2016Fine Wines and Stocks from the Perspective of UK Investors: Hedge or Safe Haven?26 cited