Applied prospect theory: assessing the βs of M&A-intensive firms

Behavioral components of Kahneman and Tversky’s (1979) prospect theory (PT) were applied to derive an adjusted Capital Asset Pricing Model (CAPM) in the estimation of merger and acquisition-intensive firms’ expected returns. The premise was that the CAPM – rooted in expected utility theory – is viol...

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Veröffentlicht in:	Investment management & financial innovations 2019, Vol.16 (2), p.236-248
Hauptverfasser:	Ryan Homan, Garth, van Vuuren, Gary
Format:	Artikel
Sprache:	eng
Schlagworte:	Behavior Capital assets Economic models Expected utility
Online-Zugang:	Volltext
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