Why is long-horizon [equity] less risky?
Subtitle: a duration-based explanation of the value premium
By: Martin Lettau, Jessica Wachter.
Contributors: Wachter, Jessica.; National Bureau of Economic Research.
Series: NBER working paper series -- working paper 11144.; Working paper series (National Bureau of Economic Research) -- working paper no. 11144.
Publisher: National Bureau of Economic Research
Published: 2005
Place of publication: Cambridge, Mass
Language: eng
Number of pages: 37
Subjects: Stocks -- Mathematical models; Rate of return -- Mathematical models; Corporations -- Valuation -- Mathematical models; Risk -- Mathematical models; Investments -- Mathematical models
Other titles: Why is long-horizon less risky.
Notes: "February 2005."

Includes bibliographical references (p. 34-[38]).

Also available in PDF from the NBER world wide web site (www.nber.org).