バリュー投資と市場の効率 : 価格と内在価値の関係を考える Efficient Market Hypothesis and Value Investing

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著者

抄録

EMH (Efficient Market Hypothesis) assume all the information are reflected in price so the effort try to finding hidden value seems only west time. But the history of boom and bust in financial market show that the prices of capital assets are not always reflect the intrinsic value. We review the three schools of investment and discuss the relation between risk and return. Because the real investment risk is the danger of a loss of quality and earning power through economic changes or deterioration in management, so the risk shall not be measured by the percent of price variability. And the idea of risk management based on rational market price and beta shall be abandoned.

収録刊行物

  • 麗澤経済研究

    麗澤経済研究 15(2), 53-78, 2007-09

    麗澤大学

各種コード

  • NII論文ID(NAID)
    110007326693
  • NII書誌ID(NCID)
    AN10404499
  • 本文言語コード
    JPN
  • 雑誌種別
    大学紀要
  • ISSN
    09196706
  • NDL 記事登録ID
    9254121
  • NDL 雑誌分類
    ZD11(経済--経済学)
  • NDL 請求記号
    Z3-3270
  • データ提供元
    NDL  NII-ELS 
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