Matches in SemOpenAlex for { <https://semopenalex.org/work/W3146345013> ?p ?o ?g. }
Showing items 1 to 83 of
83
with 100 items per page.
- W3146345013 abstract "We lay out here the basis for a long-term equity index model, with intent to extract the risk premium. This is done by first observing the behaviours of the S&P Composite price index, earnings and dividends over roughly 130 years of history, from 1871 to 1998, and then assessing whether they fit within an equilibrium and efficient-market framework. The notions of equilibrium and efficiency shall be defined and formalised here, as they relate to this work, using classical finance theory. The conclusions derived so far are twofold. First, there is a transition in the market’s behaviour at around 1945. It appears that prior to this, the dividend payment policy was, on aggregate, one of constant dividend yield. After this, the policy’s focus seems to have shifted towards achieving market equilibrium and efficiency. Second, the backward-looking risk premium during the post-transition period is found, in theory, to be simply the negative percent rate of change in dividend yield. Moreover, under the special-case scenario where the equity price is discounted at a constant “infinitehorizon” discount rate, the forward-looking risk premium becomes identically the dividend yield." @default.
- W3146345013 created "2021-04-13" @default.
- W3146345013 creator A5038235249 @default.
- W3146345013 date "2000-04-01" @default.
- W3146345013 modified "2023-09-27" @default.
- W3146345013 title "The long-run behavior of the S&P Composite Price Index and its risk premium" @default.
- W3146345013 hasPublicationYear "2000" @default.
- W3146345013 type Work @default.
- W3146345013 sameAs 3146345013 @default.
- W3146345013 citedByCount "0" @default.
- W3146345013 crossrefType "posted-content" @default.
- W3146345013 hasAuthorship W3146345013A5038235249 @default.
- W3146345013 hasConcept C101161028 @default.
- W3146345013 hasConcept C10138342 @default.
- W3146345013 hasConcept C103382277 @default.
- W3146345013 hasConcept C106159729 @default.
- W3146345013 hasConcept C116168712 @default.
- W3146345013 hasConcept C136764020 @default.
- W3146345013 hasConcept C149782125 @default.
- W3146345013 hasConcept C151541453 @default.
- W3146345013 hasConcept C162324750 @default.
- W3146345013 hasConcept C175025494 @default.
- W3146345013 hasConcept C175444787 @default.
- W3146345013 hasConcept C176230804 @default.
- W3146345013 hasConcept C17744445 @default.
- W3146345013 hasConcept C184530449 @default.
- W3146345013 hasConcept C199539241 @default.
- W3146345013 hasConcept C199728807 @default.
- W3146345013 hasConcept C2777382242 @default.
- W3146345013 hasConcept C2778098375 @default.
- W3146345013 hasConcept C2992405062 @default.
- W3146345013 hasConcept C41008148 @default.
- W3146345013 hasConcept C556758197 @default.
- W3146345013 hasConcept C59399099 @default.
- W3146345013 hasConceptScore W3146345013C101161028 @default.
- W3146345013 hasConceptScore W3146345013C10138342 @default.
- W3146345013 hasConceptScore W3146345013C103382277 @default.
- W3146345013 hasConceptScore W3146345013C106159729 @default.
- W3146345013 hasConceptScore W3146345013C116168712 @default.
- W3146345013 hasConceptScore W3146345013C136764020 @default.
- W3146345013 hasConceptScore W3146345013C149782125 @default.
- W3146345013 hasConceptScore W3146345013C151541453 @default.
- W3146345013 hasConceptScore W3146345013C162324750 @default.
- W3146345013 hasConceptScore W3146345013C175025494 @default.
- W3146345013 hasConceptScore W3146345013C175444787 @default.
- W3146345013 hasConceptScore W3146345013C176230804 @default.
- W3146345013 hasConceptScore W3146345013C17744445 @default.
- W3146345013 hasConceptScore W3146345013C184530449 @default.
- W3146345013 hasConceptScore W3146345013C199539241 @default.
- W3146345013 hasConceptScore W3146345013C199728807 @default.
- W3146345013 hasConceptScore W3146345013C2777382242 @default.
- W3146345013 hasConceptScore W3146345013C2778098375 @default.
- W3146345013 hasConceptScore W3146345013C2992405062 @default.
- W3146345013 hasConceptScore W3146345013C41008148 @default.
- W3146345013 hasConceptScore W3146345013C556758197 @default.
- W3146345013 hasConceptScore W3146345013C59399099 @default.
- W3146345013 hasLocation W31463450131 @default.
- W3146345013 hasOpenAccess W3146345013 @default.
- W3146345013 hasPrimaryLocation W31463450131 @default.
- W3146345013 hasRelatedWork W128991505 @default.
- W3146345013 hasRelatedWork W131502941 @default.
- W3146345013 hasRelatedWork W143376670 @default.
- W3146345013 hasRelatedWork W1526267735 @default.
- W3146345013 hasRelatedWork W1552262426 @default.
- W3146345013 hasRelatedWork W1610308014 @default.
- W3146345013 hasRelatedWork W1781987766 @default.
- W3146345013 hasRelatedWork W2023675838 @default.
- W3146345013 hasRelatedWork W2100972729 @default.
- W3146345013 hasRelatedWork W2104677851 @default.
- W3146345013 hasRelatedWork W2273664327 @default.
- W3146345013 hasRelatedWork W2491039698 @default.
- W3146345013 hasRelatedWork W2570834760 @default.
- W3146345013 hasRelatedWork W2887828171 @default.
- W3146345013 hasRelatedWork W2898549407 @default.
- W3146345013 hasRelatedWork W3121709075 @default.
- W3146345013 hasRelatedWork W3121842982 @default.
- W3146345013 hasRelatedWork W3122718005 @default.
- W3146345013 hasRelatedWork W3126042483 @default.
- W3146345013 hasRelatedWork W3151742922 @default.
- W3146345013 isParatext "false" @default.
- W3146345013 isRetracted "false" @default.
- W3146345013 magId "3146345013" @default.
- W3146345013 workType "article" @default.