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Treasury Bond risk and return, the implications for the hedging of consumption and lessons for asset pricing

โœ Scribed by Richard A. Michelfelder; Eugene A. Pilotte

Book ID
116636305
Publisher
Elsevier Science
Year
2011
Tongue
English
Weight
512 KB
Volume
63
Category
Article
ISSN
0148-6195

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Corporate Investment and Asset Price Dyn
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โœ MURRAY CARLSON; ADLAI FISHER; RON GIAMMARINO ๐Ÿ“‚ Article ๐Ÿ“… 2004 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 202 KB

## ABSTRACT We show that corporate investment decisions can explain the conditional dynamics in expected asset returns. Our approach is similar in spirit to Berk, Green, and Naik (1999), but we introduce to the investment problem operating leverage, reversible real options, fixed adjustment costs,