Essays on the Economics of Risk and Financial Markets
Contributors: Campbell, John Y.; Coval, Joshua D.; Simsek, Alp; Green, Jerry R.
Published: 2013
Language: eng
Description: Prices in financial markets are primarily driven by the interaction of risk and time. The returns to financial assets over long time horizons are primarily driven by fundamental news regarding their promised cash flows. In contrast, short-run price variation is associated with a large degree of predictable, transient investor trading behavior unrelated to fundamental prospects.
Notes: Keywords: asset pricing, financial markets, investment, risk, time horizon.

Thesis Ph.D. Harvard University 2013