Investor Sentiment, Limited Arbitrage, and the Cash Holding Effect
نویسندگان
چکیده
منابع مشابه
Limited Arbitrage, Segmentation, and Investor Heterogeneity: Why the Law of One Price So Often Fails
There are numerous examples of assets with identical payout streams being priced differently. These violations of the law of one price result from two factors. First, investors have heterogeneous asset valuations so that if two groups of investors trade in segmented markets they are likely to set different prices because they have different expectations as to the value of the identical assets. ...
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ژورنال
عنوان ژورنال: Review of Finance
سال: 2016
ISSN: 1572-3097,1573-692X
DOI: 10.1093/rof/rfw031