Wissenschaftliche Literatur Risk Premium
Eine Auswahl unserer Fachbücher
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Kristian Dicke
The Processing and Pricing of Macroeconomic Information in Financial Markets
How is macroeconomic information processed and priced in financial markets? This work is dedicated to the exploration of different aspects of the relationship between the macroeconomic state of an economy, information about this state, and the pricing of assets. The research question is addressed in three steps.
First, we explore the sensitivity of investors’ riskpremium demands to macroeconomic risk. Specifically, we analyze the link between an economy’s…
Asset PricingBayesian UpdatingBusiness ConditionsFinanceImplied Cost of CapitalInformation ProcessingMacroeconomic NewsRisk Premium
Jacob Bjorheim
The Epistemological Value of Consumption Based Asset Pricing Models
BOETHIANA – Forschungsergebnisse zur Philosophie
The book is a philosophical analysis of the consumption based capital asset pricing model (CCAPM), investigating in particular its epistemological and methodological foundations.
Financial markets are integral parts of advanced and developing economies. They matter because they channel unspent household income into banks’ savings accounts and assets such as bonds and stocks. Financial economists have traditionally taken interest in the pricing mechanism that…
Asset PricingAssumptionsEpistemologyEquity Risk PremiumFinanceMethodologyModelsOntologyPhiliosophyPhilosophiePhilosphy of ScienceTendencies
Miriam Breunsbach
Applications of Company Valuation Models
Empirical Evidence on Selected Topics
“One of the most important problems of corporate finance is the valuation of proprietary equities” as stated by Preinreich (1936).
Determining the economic value of a company is indeed an important theoretical and practical issue. The estimation of the true value of a company is essential for stock market investors, either professional or private. Only if he valuates a company accurately, can he assess whether it is over- or undervalued and make profitable…
AccrualsAsset PricingBetriebswirtschaftslehreBusiness CycleCash FlowDividend Discount ModelEarnings QualityFinanzenFinanzmanagementImplied Lost of CapitalMacroeconomic AnnouncementsRechnungswesenResidual Income ModelRisk PremiumSummary Measure
Manuel Weinmann
Earnings Forecast Modeling
A Systematic Approach
Equity analysts’ earnings forecasts, collected by the Institutional Brokers’ Estimate Service (IBES), Zacks and other news providers, serve as a central input in financial research. For example, Claus & Thomas (2001) use earnings forecasts to estimate the equity riskpremium. The equity riskpremium, defined as the excess of the expected return on the market over the risk-free rate, is most commonly estimated via historical averages of ex post realized returns due to the…
BetriebwirtschaftslehreCross-sectional Earnings ModelEarnings ForecastsFinanzmanagementForecast AccuracyForecast BiasImplied Cost of CapitalVolkswirtschaftslehre