The author analyzes the influence of investors’ macroeconomic expectations on the U.S. equity market by focusing on three central issues: First, “Do investors’ equity risk premia expectations depend on overall business conditions? Hereby, the importance of economic conditions for doubtlessly one of the most essential value drivers of stock markets is…Asset Pricing Business Cycle Information Processing Macroeconomic Announcements Rechnungswesen Stock Market Efficiency
The core question of this book is how macroeconomic information impacts asset prices. Macroeconomic announcements are important for asset prices, because they provide information on current and future economic conditions. They are widely discussed by investors and extensively covered by the public press.
This book shows that a wide…Asset Pricing Betriebswirtschaftslehre Finanzmanagement Information Processing Macroeconomic Announcements Stock Market Efficiency