Scribd Logo
Upload

Welcome to Scribd!

  • Chapter 7

    Uploaded by

    LINH NGUYEN NGOC THUY
    16 views21 pages

    Original Title

    CHAPTER 7

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    Download as pdf
    16 views21 pages

    Chapter 7

    Uploaded by

    LINH NGUYEN NGOC THUY

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    Download as pdf
    of 21
    The Stock Market, the Theory of Rational } Expectations, and the Efficient Market Hypothesis 7.1 COMPUTING THE PRICE OF COMMON STOCK Se Iman st mange oe a ‘The One-Period Valuation Model tech vel yar msm ere Aer tng Cue er Ng bes Narea gue sao yazsto vy ed Cry oc Sos capone ‘Stil eninge pera ppe eerfor e Sain on Ci juts seed kag fm yor “To owe his un, yo eds dein whaber cant pe ay sat eine sob yew nde Ser ni tush dv cored tua ro ow sedan fe iyo ret Tee {Sts pametp snipe When cas rw dened eet @ ‘ey Tea ‘Serene yo hue decd try = B12 eld bl poe Spe sin cede (7 918s ete sacs Om eds TiS tea, grape ivig mses mAPTER Y These Thiel nthe iit Mak Hgts 94 nthe ef yor so dn prt le ol ch eon ce ea Reena eer te ed vis ct elite ep eros ne ‘The Generalized Dividend Valuation Mode! ue pre ne rach ste enon, Te gms map wear oar Tar Se eye aon ie eo ‘a ee Ex cmc me Fa cox [a0 1 Bo Tre reong soos = o low i Re scat eu ra aac rh perk a Bef pine tema! dled en mol gust ‘The Gordon Growth Model peBXOeD! BxOeg jaxueat 4 Sa a 7} gun Scans ot utes! Shere 8 ua a ‘Me pnt mde an eqn ey Min Gar, ‘hc imho eal gw pons ae 7.2 HOW THE MARKET SETS STOCK PRICES 07 ei et ofr mtn on ke ‘ard cnet oe ne ae sce eo warm ke a that he an eels oer fr bs cron a8 serps mAPTER Y The te Thy fae gn eth i Matias 18 ‘Ww yh and fr sh Sap ne sy ke ‘edgy Art eequenc hems wing py eae the a han ou wee The art ecg opens wa ay he Ganesh he ple yuma at plang Sup states ton ae ey enn eno ‘Sire ee at ern but hee ta few wl emt na Tw soy eos ses Spore ou cng he ste expec ay ented sem yr aac slg ee he Exispie ln min Se nut Now opie sn er, a ken ih nye od sctsmare oie on eprom fomternaensen ee ‘tame eres oe Yon em enge C2 e Spey eee ey om ye Swe sends yay ba ee Sette ‘ [Reptication Monetary Policy and Stock Prices vada ras paceman as Mather Sh aoakr eerie Scien ione ederrunorn he Codn poh st oon) eas Semester npn gt care be fnemnarn se 3 dec SESE shied scemrese een ch eon pteacsecezemy bn [Repiication The Coronavirus Stock Market Crash of 2020 ‘Respro nF 299 gd nok me Eo ecaimapa sonic iet THe nar dem 3 major dem of he omy, eng shay dour ean» ne pn popes US. cena hs eng SE Reacl ptr mir el ere {Sour aca En ager eto irehe Seo The camino ore ved rm ad her See cermin ey OF nde im cnt 7.3. THE THEORY OF RATIONAL EXPECTATIONS, 1073 Compendia saps npn anata eects [evpcs pcan pecaly expats of cas Ge ded lca ‘Stmpmanli ein Lew ecelatnr ee Wed sy outing ery ‘fest ec crayon my ace oe Siem AFTER Y The Muh Thy fae ign ete ii Mattes 1 act iad Seman vee mest Sow oe tinea dat or saa see ae hd mer Sen Per Ee eat eae iment ada eas oe pea a a ee CHS ei Searircigactier Saeed Seer ce ees edarerraaae oe ayer gcecioeet scent eae mieten eer suis Eee 30 ma oe carr ek ag ees or we dng taker, egos tet otal ia eS a= aSin, en Hove orc hs at ve ep st ent Sep ele gn ac ae sen hgh ten eapetaton Sua the pin foes wing a ae ‘mit stn kon tinh ie sa aig toes pein cr elo tei ie rd apc yao el rere 2, Rape Scanlon Saleem Formal Statement af the Theory {sesh be Sang lcs oe tpi Joe Comme ae ae). ‘ieee of sis eat dente at Sees tve hci msn oro pot Rationale Behind the Theory ‘ks ting Soe erm Tepe glo sly fopesgin de commie sso nite he aca ‘Shoe ies ll ohn tooo gee rer be MAPTER Y The Mb Thy fae gins te i Matas RT ema el ape bac opr pins ma isc Geis irate mae ee (cle pw elles inane woman Implications of the Theory ‘lpn nk ro cma png 1 here change ty ae mee he ay tbh pcan {vaca ferme change nl Tht en pecan Ee SR tan eS ae cape hi sale an onc ae ‘Perth adm bn tnee he apaes seme err et ih hgh ce ne ec TRA Ae cpl nc th tier ed eee ‘pret wer el Toc thugs ye ct Toe errs ome Tern peas nas hoe ner 2 Thefoee eas of expen om aerage, be oa aot bere ie fone or pea ee ‘ie Seen roa tn spate bb is dh pee Sipps oh at cops et fo Geen et Soo pehSSSGSNT ieee en te tahetpon ge ‘Rien capo hor psa th xy aol de Sch ‘NESE ctw res a pile iene se pd int cog eons ol Sea SR et atl bp ay tli 7.4 THE EFFICIENT MARKET HYPOTHESIS: RATIONAL EXPECTATIONS IN FINANCIAL MARKETS 1074 Spiny ating coporant ing hac et ma yeaa, Wale ony rit devping hn atlas, na SI gs ly ens in in "pcm an macula ota vc to a ae ‘Seeman ange anal ens uh Ene Fans a enon Pert emo pre tes aye me eing we ee ote tym mrs pc spice sarap sbi san oa om caper athe sam tm bsg ery ge mec ga ke ‘ey gyros psn po eens coaiiss "yp toate Eaiae Spite Apacer ats Baath mAPTER Y The Muh te Thy fea gin ete i Matas 18 aha mt sae ter oath ios pce go setts Zane soon ae Shaping ‘Bags the quay demanded ete gua spp Supp od dad ct nian ni. am ha So que ithe west Su ect etre fname wil be ha {i pa fee of asc rn oan ea ie ‘erg eqns retin oon essen sot nes gn ek tens pee yas eo Rationale Behind the Hypothesis ec ny de are pn ke ete we mae eee Ca i oy ie eg a mad ‘genoa ey afm es ne ES by accent enone hese at eR ne te ae cen anion 1) gap we 108 (FRE) wel bea por ive! becom a (Pitch lvl of and oe eet aetendon os gnarl Oot Wo wontoet enonloet © onthe: ys ik matt cen thc fen art sitar opie ie nate nina eran CUiagi hc ct tele en Bsns oe bce Random-Walk Behavior of Stock Prices Sie pees nde eae, ea a tie Image sick pe bapa bw tnd wale a ‘te ng od rc a cp be neal symone area ly one eh ‘ig tigate pn . gett etree ea Caper gC sk wrt ‘Eregao oan sv tk > A ccc ck pte ected safe weld be negeve <1), doe weld ei ‘waft bypass vagges tha the pete heh Mere te Thy of Eilts te iit Make pes 281 Foreign Exchange Rate Fellow 2 Random Walk? 2a ending he onan th a prc wl ela nde wk eth Soro rage cages ows Rnd Wa es, SRoe erties cs oe (ReFiteation Practical Guide to Investing in the Stock Market Te lien mh beeen a amen eed sap ‘Site kenur ene pted sl se tn hr ec ayo rsh oa ge ot sing ed mae A pl feeling te dea mace ey Hepat ‘ning heen tee ake ys How Valuable Are Reports Published by Investment Advisers? Spee os ae fa ain Heo be es tbe Wate ufone ers se tn oma shes on age gS eee tw ter tg 1h ko mp a i ven pening» yo se eg at ones SASS fan rgb os cuba eri rep th sie ae weber hg ong noel Fs ‘iopeeriymkanecea oetierte sear sewn ptm toe pura peer een [ese ra telat ao falas ee eg stat sutton cape proto ey Manse tan onic prec mm > thr eve er ote appre cua ke ii lenin gent ln Seana ese es tanto " Should You Be Skeptical of Hot Tips? ryt mac inpaae inde dosh eres, Seu leu he quan sa or pW Pay alk ‘lnoenl yu cman acral tree eum ode hugh he br py ed on ew maton an wud So Riu rey ner apn fens era ‘nocks pace wre he ran, neyo shal ape eee ey het Mr te Thy of Bl Eis a iin Mek pis 20D eer smn omega be 2 {2 jot sume od. Ophea ube nef cy tes wo, om aera wl SESSA RSG a pet oe Do Stock Prices Always Rise When There Is Good News? “dso esd at ami he etd ingen, hn “anos. the pn se sepenons tk reer des Th ce Steet Sapn i, aca ade cls ama, ns rian mre The ee ees sotto hw es Sch tee aot reece Seong caro ek Reno Sect Temata opts hc tn arn 7.5 WHY THE EFFICIENT MARKET HYPOTHESIS DOES NOT IMPLY THAT FINANCIAL MARKETS ARE EFFICIENT 12.1 yd win pain om can mee ans ‘ike etal qu oop esas ang al aaa wns ‘er ab dhe ond tsps al ee ‘dena ema a fe sr she ory a oc ge (Src an at mrt fndamentals en a aes de pee Siig ela tee etna Pps cay ce sl a ose monte ba he eae ‘Scenes acral a ben sc peso beso blp te “ite mses bm eet Sone mpebc ned w lovng pesos aes, hee io Howe, mat res so bis fe na meena an MAPTER Y The Mabe Thy fae gins ete i Mattes 208 What Do Stock Market Crashes Tell Us About the Efficient Market Hypothesis and the Efficiency of Financial Markets? ee det at ebay ‘il se pte oes pot 200 sel eye sae sees ie pe ocd wlan ere ee ie i erent ‘Sahai emetic se et cm lee pre spp may sl the nen me pets mi Se italy tue Te oor ane ome pp ai © 7.6 BEHAVIORAL FINANCE Frown Send ced barr tans peer ccs omc cen, es chase tg, partly peg ne ahr {owe hn eth fet mk paisa nee sponte mest ar mea pr a a ee ‘enka te ear ct Say lat ‘Seiatgprtet nc teeny pesto nage Sry eee ba een ed Secon by ee ee porveny rng eae vt Ase pce cb say hr ah pee whe So es mae nd ieee eae omen sg A he hg oy Sse ay eng "Ste theese os i st gn ey Sock pe es erent eleanor yao Tolga ane abe and teat epee be oven hs ns mdgzints Aneta snd bea yo se an es Setar mgm re ine ne ly et st einige mrtg Brennen sn conag ak point or od Kine uk ptr ak nt Tie enemies gerne Seumei ‘Pedeng aes oh iy ce hes pet ‘the ii et hat re sag ona lt he a we ‘Pile by hr abet (Gummary is upon painy Rey presysap ne

    You might also like