Irrational Exuberance Reconsidered
Subtitle: The Cross Section of Stock Returns
By: by Mathias Külpmann
Edition: Second Edition.
Series: Springer Finance; Springer finance
Publisher: Springer Berlin Heidelberg
Published: 2004
Place of publication: Berlin, Heidelberg
Language: eng
Format: [electronic resource] :
Number of pages: 230
ISBN-13: 9783642057267; 9783540247654
Subjects: Macroeconomics; Economics; Finance
Description: Does the stock market overreact? Recent capital market turbulences have cast doubt whether the behaviour of stock markets is in line with rational investor behaviour. This monograph presents a framework to evaluate whether the stock market is in line with underlying fundamentals. This new and revised edition offers an up to date introduction to the controversy between rational asset pricing and behavioural finance. Empirical evidence of stock market overreaction are investigated within the paradigms of rational asset pricing and behavioural finance. Although this monograph will not promise the reader to become a millionaire, it offers a road to obtain a deeper understanding of the forces which drive stock returns. It should be of interest to anyone interested in what drives performance in the stock market.
Notes: Online full text is restricted to subscribers.

Also available in print.

Mode of access: World Wide Web.
Table of contents: title: Irrational Exuberance Reconsidered: Stock Market Overreaction and Portfolio Management - An Interview with Barbara Rega, CFA, and Bernd Meyer, CFA; title: Scope of Analysis; title: Overshooting in the Cross Section of Stock Returns: The Winner-Loser Effect: Literature; title: Empirical Evidence for Germany; title: Explaining the Cross Section of Stock Returns: CAPM versus Fundamentals: Explaining the Winner-Loser Effect: Theory; title: The CAPM and the Winner-Loser Effect; title: Fundamentals and the Winner-Loser Effect; title: Fundamentals versus Beta - What Drives Stock Returns? Corporate Control: Reversals in Stock Returns and Temporary Problems of Corporate Control; title: Conclusion.