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OverviewGevorg 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. Full Product DetailsAuthor: Gevorg HunanyanPublisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Imprint: Springer Gabler Edition: 1st ed. 2019 Weight: 0.454kg ISBN: 9783658279554ISBN 10: 3658279559 Pages: 117 Publication Date: 10 October 2019 Audience: Professional and scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: Manufactured on demand  We will order this item for you from a manufactured on demand supplier. Table of ContentsPortfolio Selection.- CAPM Equilibrium.- Dynamic Model.- Security Market Line.ReviewsAuthor InformationGevorg Hunanyan completed his doctoral dissertation under the supervision of Prof. Dr. Jan Wenzelburger at the Technische Universität Kaiserslautern at the Chair of Macroeconomics. Tab Content 6Author Website:Countries AvailableAll regions |
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