Alternatif Varlik Fiyatlama Modellerinden Zamanlararasi Varlik Fiyatlama Modeline Teorik Bir Yaklaşim
One of the asset pricing models is intertemporal asset pricing model which was developed by Merton (1973). In intertemporal asset pricing model, it is assumed that state variable which reflect the change in investment opportunities and market portfolio return explain the horizontal cross sectional c...
Gespeichert in:
Veröffentlicht in: | Kafkas University. Faculty of Economics and Administrative Sciences. Journal 2018-06, Vol.9 (17), p.257-279 |
---|---|
Hauptverfasser: | , |
Format: | Artikel |
Sprache: | tur |
Schlagworte: | |
Online-Zugang: | Volltext |
Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
Zusammenfassung: | One of the asset pricing models is intertemporal asset pricing model which was developed by Merton (1973). In intertemporal asset pricing model, it is assumed that state variable which reflect the change in investment opportunities and market portfolio return explain the horizontal cross sectional change in stock returns. The purpose of this study is deeply to investigate in theory the intertemporal asset pricing model which is one of an alternative approaches to asset pricing models. Within this scope, firstly it was mentioned about equilibrium models and gived to place interetemporal asset pricing model theoretically. After summarizing the findings of application of intertemporal asset pricing model for developed and developing countries, the study with consequence and recommendations has been terminated. When the literature is researched, during th times when Merton developed intertemporal asset pricing model, it has been mostly seen mentioned to model theoretically. However, after 2000’s years, empirical studies have been taken on related the model. As a matter of the fact, it has been determined that these empirical studies are mostly carried out for the developed countries with various versions of the model, but as for the developing countries, there is an implementation gap related the model. |
---|---|
ISSN: | 1309-4289 2149-9136 |