第27章金融学的基本工具.ppt

资产评估 有效市场假说 假设人们买卖股票是理性的 处理信息是基于股票的价值 股票价格的波动 部分上是心理原因 * 资产评估 当一个资产的价格 在它的价值之上 市场经历一个投机泡沫 投机泡沫的可能性 股票对于股东的价值取决于: 红利支付流量 最终出售的价格 * 资产评估 争论: 背离理性定价的频繁性和重要性 市场非理性 股票市场上的波动 很难根据可以改变理性评价的新闻来解释股市的变动方式 有效市场假说 对一个公司进行理性和正确的评价是不可能的 * * ? 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ? 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ? 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ? 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ? 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ? 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. PowerPoint Slides prepared by: Andreea CHIRITESCU Eastern Illinois University 27 ? 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use