Téléchargez le livre : The Consequences of Short-Sale Constraints on the Stability of Financial Markets

The Consequences of Short-Sale Constraints on the Stability of Financial Markets



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Éditeur :

Springer Gabler


Collection :

Finanzwirtschaft, Banken und Bankmanagement I Finance, Banks and Bank Management

Paru le : 2019-10-05



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Description
Gevorg Hunanyan develops a model that provides a comprehensive theoretical framework to study the consequences of short-sale constraints on the stability of financial markets. This model shows that overpricing of securities is solely attributable to the subjective second moment beliefs of investors. Thus, short-sale constraints prevent a market decline only if investors have low dispersion of beliefs, which in the model is embodied in the covariance matrix. Moreover, the author analyses the consequences of short-sale constraints on the investor’s portfolio selection, risk-taking behaviour as well as default probability. The author develops criteria that allow to analyse the effectiveness of short-sale constraints in reducing portfolio risk as well as default risk.
Pages
117 pages
Collection
Finanzwirtschaft, Banken und Bankmanagement I Finance, Banks and Bank Management
Parution
2019-10-05
Marque
Springer Gabler
EAN papier
9783658279554
EAN PDF
9783658279561
Informations sur l'ebook
Nombre pages copiables
1
Nombre pages imprimables
11
Taille du fichier
1843 Ko
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Prix
52,74 €

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