What drives stock prices? Fundamentals, bubbles and investor behavior.
Using a dynamic version of the present value model and a range of developed and Asian emerging markets, this paper considers estimates of stock market prices given expectations on dividends and earnings and compares these fundamental stock prices with actual stock prices. The reported empirical resu...
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| Format: | Working Paper |
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School of Economics and Finance, Curtin Business School
2009
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| Online Access: | http://hdl.handle.net/20.500.11937/41161 |