| 书目名称 | The Consequences of Short-Sale Constraints on the Stability of Financial Markets |
| 编辑 | Gevorg Hunanyan |
| 视频video | http://file.papertrans.cn/907/906665/906665.mp4 |
| 概述 | Publication in the field of economic theory |
| 丛书名称 | Finanzwirtschaft, Banken und Bankmanagement I‘Finance, Banks and Bank Management |
| 图书封面 |  |
| 描述 | 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. |
| 出版日期 | Book 2019 |
| 关键词 | Short-Sale; Regulation; CAPM; Equilibrium; Agent-Based Modelling; Financial Markets; Stability; Systematic |
| 版次 | 1 |
| doi | https://doi.org/10.1007/978-3-658-27956-1 |
| isbn_softcover | 978-3-658-27955-4 |
| isbn_ebook | 978-3-658-27956-1Series ISSN 2524-6429 Series E-ISSN 2524-6437 |
| issn_series | 2524-6429 |
| copyright | Springer Fachmedien Wiesbaden GmbH, part of Springer Nature 2019 |
|Archiver|手机版|小黑屋|
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