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AuthorKรผlpmann, Mathias. author
TitleIrrational Exuberance Reconsidered [electronic resource] : The Cross Section of Stock Returns / by Mathias Kรผlpmann
ImprintBerlin, Heidelberg : Springer Berlin Heidelberg : Imprint: Springer, 2004
Edition Second Edition
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Descript XII, 230 p. online resource


Does the stock market overreact? Recent capital market turbulences have cast doubt whether the behaviour of stock markets is in line with rational investor behaviour. This monograph presents a framework to evaluate whether the stock market is in line with underlying fundamentals. This new and revised edition offers an up to date introduction to the controversy between rational asset pricing and behavioural finance. Empirical evidence of stock market overreaction are investigated within the paradigms of rational asset pricing and behavioural finance. Although this monograph will not promise the reader to become a millionaire, it offers a road to obtain a deeper understanding of the forces which drive stock returns. It should be of interest to anyone interested in what drives performance in the stock market


I Irrational Exuberance Reconsidered -- 1 Stock Market Overreaction and Portfolio Management โ{128}{148} An Interview with Barbara Rega, CFA, and Bernd Meyer, CFA -- 2 Scope of Analysis -- II Overshooting in the Cross Section of Stock Returns: The Winner-Loser Effect -- 3 Literature -- 4 Empirical Evidence for Germany -- III Explaining the Cross Section of Stock Returns: CAPM versus Fundamentals -- 5 Explaining the Winner-Loser Effect: Theory -- 6 The CAPM and the Winner-Loser Effect -- 7 Fundamentals and the Winner-Loser Effect -- 8 Fundamentals versus Beta โ{128}{148} What Drives Stock Returns? -- IV Corporate Control -- 9 Reversals in Stock Returns and Temporary Problems of Corporate Control -- Conclusion -- References -- Author Index -- About the Author

Finance Economics Mathematical Macroeconomics Finance Finance general Quantitative Finance Macroeconomics/Monetary Economics//Financial Economics


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