Catalogo Articoli (Spogli Riviste)

OPAC HELP

Titolo:
How does the spirit of capitalism affect stock market prices?
Autore:
Smith, WT;
Indirizzi:
Univ Memphis, Fogelman Coll Business & Econ, Memphis, TN 38152 USA Univ Memphis Memphis TN USA 38152 Business & Econ, Memphis, TN 38152 USA
Titolo Testata:
REVIEW OF FINANCIAL STUDIES
fascicolo: 4, volume: 14, anno: 2001,
pagine: 1215 - 1232
SICI:
0893-9454(200124)14:4<1215:HDTSOC>2.0.ZU;2-#
Fonte:
ISI
Lingua:
ENG
Soggetto:
STOCHASTIC DIFFERENTIAL UTILITY; CONTINUOUS-TIME; RISK-AVERSION; NONEXPECTED UTILITY; PORTFOLIO CHOICE; EQUITY PREMIUM; ASSET PRICES; CONSUMPTION; SUBSTITUTION; INFORMATION;
Tipo documento:
Article
Natura:
Periodico
Settore Disciplinare:
Social & Behavioral Sciences
--discip_BC--
Citazioni:
25
Recensione:
Indirizzi per estratti:
Indirizzo: Smith, WT Univ Memphis, Fogelman Coll Business & Econ, Memphis, TN 38152 USA Univ Memphis Memphis TN USA 38152 & Econ, Memphis, TN 38152 USA
Citazione:
W.T. Smith, "How does the spirit of capitalism affect stock market prices?", REV FINANC, 14(4), 2001, pp. 1215-1232

Abstract

Bakshi and Chen (1996b) suggest that the spirit of capitalism affects stock prices by increasing society's aversion to risk. In this article, I show that the way in which the spirit of capitalism impinges upon asset prices depends on the interaction of impatience, willingness to substitute over time, and ordinal preferences between consumption and status, in addition to risk aversion. I develop a general model that charts the channels through which the spirit of capitalism affects asset prices. An increase in the capitalist spirit may increase or decrease risk aversion, and may actually decrease the prices of risky assets.

ASDD Area Sistemi Dipartimentali e Documentali, Università di Bologna, Catalogo delle riviste ed altri periodici
Documento generato il 02/04/20 alle ore 00:18:08