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Asset Pricing : A Structural Theory and Its Applications (Hardcover)

Author: Cheng, Bing

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Product Overview

Modern asset pricing models play a central role in finance and economic theory and applications. This book introduces a structural theory to evaluate these asset pricing models and throws light on the existence of Equity Premium Puzzle. Based on the structural theory, some algebraic (valuation-preserving) operations are developed in asset spaces and pricing kernel spaces. This has a very important implication leading to practical guidance in portfolio management and asset allocation in the global financial industry. The book also covers topics, such as the role of over-confidence in asset pricing modeling, relationship of the portfolio insurance with option and consumption-based asset pricing models, etc.

Specifications

Publisher World Scientific Pub Co Inc
Mfg Part# 9789812704559
SKU 204195644
Format Hardcover
ISBN10 9812704558
Release Date 6/11/2013
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