What drives stock prices? Fundamentals, bubbles and investor behaviour

Using a dynamic version of the present value model and a range of developed and Asian emerging markets, this article considers estimates of stock market prices given expectations on dividends and earnings and compares these fundamental stock prices with actual stock prices. The reported empirical re...

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Veröffentlicht in:	Applied financial economics 2010-09, Vol.20 (18), p.1461-1477
Hauptverfasser:	Chen, Yen-Hsiao, Fraser, Patricia
Format:	Artikel
Sprache:	eng
Schlagworte:	Asia Cash flow Comparative analysis Economic behaviour Economic models Estimation Investment Investors Market theory Present value Securities markets Stock prices Stock returns Studies
Online-Zugang:	Volltext
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