The Effect of the Temporal Resolution of Uncertainty on Asset Pricing : A Survey and an Empirical Study of Japan’s Corporate Bond Markets

• MIYAZAKI Kenji

• 宮﨑 憲治

抄録

Our paper gives an overview of studies on the effect of the temporal resolution of uncertainty (TRU) on asset pricing. It also conducts an empirical analysis using recent data on corporate bonds issued in Japan as well as from the International Brokers Estimate System (IBES) database for earnings forecasts from which we construct proxies for TRU. Our analysis does not support the hypothesis that firms with a more delayed resolution of uncertainty offer larger yields.

収録刊行物

• Journal of International Economic Studies

  Journal of International Economic Studies 22 51-69, 2008-03

  Institute of Comparative Economic Studies, Hosei University

詳細情報

• CRID: 1390009224827392128
• NII論文ID: 120000994056
• NII書誌ID: AA10459262
• DOI: 10.15002/00003134
• HANDLE: 10114/1673
• ISSN: 09111247
• 本文言語コード: en
• データソース種別:
  • JaLC
  • IRDB
  • CiNii Articles
• 抄録ライセンスフラグ: 使用可