Empirical Asset Pricing Models

This book analyzes the verification of empirical asset pricing models when returns of securities are projected onto a set of presumed (or observed) factors. In particular, the model search approach (with this dichotomy emphasized) for empirical model selection of asset pricing is applied to discover the pricing kernels of asset returns.

Aceasta carte analizeaza verificarea modelelor empirice de stabilire a preturilor activelor atunci cand randamentele titlurilor de valoare sunt proiectate pe un set de factori presupusi (sau observati). In special, abordarea de cautare a modelului (cu aceasta dihotomie subliniata) pentru selectia modelului empiric de stabilire a preturilor activelor este aplicata pentru a descoperi nucleele de stabilire a preturilor randamentelor activelor.