Open AccessWhy is Long-Horizon Equity Less Risky? A Duration-Based Explanation of the Value Premium
Author(s) -
Martin Lettau,
Jessica A. Wachter
Publication year - 2005
Language(s) - English
Resource type - Reports
DOI - 10.3386/w11144
Subject(s) - duration (music) , equity (law) , horizon , economics , value (mathematics) , econometrics , equity premium puzzle , financial economics , monetary economics , actuarial science , mathematics , statistics , risk premium , physics , political science , geometry , acoustics , law
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