教学项目

报考我们

教师与研究

学生发展

校友

合作伙伴

国家金融研究院

关于我们

English

【学术预告】俄亥俄州立大学金融学教授张橹学术研讨会:价值投资中的经济学

时间:2017-12-11 来源: 作者: 浏览: 字号: 打印

主题:The Economics of Value Investing(价值投资中的经济学)

主讲人:张橹,俄亥俄州立大学菲舍尔商学院金融学教授

日期:20171211日(周一)

时间:上午10:00-11:30

地点清华五道口金融学院4号楼101教室

语言:英文

摘要:

The investment CAPM provides an economic foundation for Graham and Dodd’s (1934) Security Analysis, without mispricing. Expected returns vary cross-sectionally, depending on firms’ investment, expected profitability, and expected investment growth. Our economic model also offers an appealing alternative to two workhorse accounting models. Empirically, many anomaly variables are associated with future investment growth, in the same direction with future returns. An expected growth factor earns on average 0.56% per month (t = 6.66), and adding it to the q-factor model improves the model’s performance substantially. In all, value investing is consistent with efficient markets. 

主讲人简介:

Lu Zhang holds the The John W. Galbreath Chair Professor of Finance at the Ohio State University. He received a Ph.D. in Finance from the Wharton School, University of Pennsylvania in 2002. Before Joining Ohio State in 2010, he taught at Stephen M. Ross School of Business at University of Michigan and William E. Simon Graduate School of Business Administration at University of Rochester. Professor Zhang’s research interests include asset pricing, corporate finance, labor economics, and capital markets research in accounting. He has articles published in the Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Accounting Research, and Journal of Political Economy among others.

 

教学项目

清华大学国家金融研究院

友情链接:幸运飞艇  幸运飞艇  澳彩网彩票  幸运飞艇开奖记录  幸运农场开奖视频  

免责声明: 本站资料及图片来源互联网文章,本网不承担任何由内容信息所引起的争议和法律责任。所有作品版权归原创作者所有,与本站立场无关,如用户分享不慎侵犯了您的权益,请联系我们告知,我们将做删除处理!