The Consequences of Short Sale Constraints on the Stability of Financial Markets is popular PDF and ePub book, written by Gevorg Hunanyan in 2019-10-05, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, The Consequences of Short Sale Constraints on the Stability of Financial Markets can be Read Online from any device for your convenience.
The Consequences of Short Sale Constraints on the Stability of Financial Markets Book PDF Summary
Gevorg Hunanyan develops a model that provides a comprehensive theoretical framework to study the consequences of short-sale constraints on the stability of financial markets. This model shows that overpricing of securities is solely attributable to the subjective second moment beliefs of investors. Thus, short-sale constraints prevent a market decline only if investors have low dispersion of beliefs, which in the model is embodied in the covariance matrix. Moreover, the author analyses the consequences of short-sale constraints on the investor’s portfolio selection, risk-taking behaviour as well as default probability. The author develops criteria that allow to analyse the effectiveness of short-sale constraints in reducing portfolio risk as well as default risk.
Detail Book of The Consequences of Short Sale Constraints on the Stability of Financial Markets PDF
- Author : Gevorg Hunanyan
- Release : 05 October 2019
- Publisher : Springer Nature
- ISBN : 9783658279561
- Genre : Business & Economics
- Total Page : 117 pages
- Language : English
- PDF File Size : 21,9 Mb
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