Stock- market participation, intertemporal substitution, and risk- aversion

Article Abstract:

The importance of the consumption growth of stockholders and the returns of stocks and bonds assets in determining the elasticity of intertemporal substitution is assessed using Eular equations. The results indicate that the elasticity of substitution for stockholders is likely to be above 1 and the risk-aversion estimates for stockholders as low as 5-10 can be obtained for realistic assumptions.

Financial management, Asset & Risk Management, Company investment, Investments, Stockholders, Risk management

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Equity-markets liberalization as country IPO's

Article Abstract:

Equity-market liberalization and Initial Public Offerings (IPO's) are similar events as they help to increase the pool of investors who can invest in firms. IPO's involve a process wherein securities are offered to the public at one point of time through an offering, and the securities are generally under priced at the offering.

Financial markets, Going public (Securities), Initial public offerings, Company public offering

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Technological change and the stock market

Article Abstract:

The drop in stock market on arrival of new technology that suddenly renders old technology obsolete is analyzed with the help of a mathematical model and data from 1970's relating to introduction of microprocessor.

Michigan, Usage, Mathematical models, Technological innovations

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