Am Dienstag, den 19.05.2015, findet im Rahmen des  Finance and Insurance Seminars ein Vortrag statt, von

Paul Ehling, Ph.D.
Assiociate Professor
BI Norwegian Business School
Department of Finance

Thema:
Disagreement and the Cross Section of Stock Returns

Abstract:

We discuss a simple model of cross-sectional disagreement about expected cash flow growth, which produces a positive relation between disagreement and return volatility and between disagreement and the volatility of trade in the cross-section. In the model, stocks with high disagreement correlate more with each other than stocks with low disagreement. Taking the model to the data by using dispersion in analysts’ forecasts, we sort stocks into portfolios and find positive relations between dispersion and stock portfolio standard deviations and turnover volatility. As in the model, portfolios with high disagreement correlate more with each other than portfolios with low disagreement.

Das Seminar beginnt um 16:15 h, J 253, Universitätsstr. 14-16.

Über eine rege Teilnahme freuen wir uns sehr.

Prof. Dr. Nicole Branger
Prof. Dr. Nadja Günster
Prof. Dr. Thomas Langer
Prof. Dr. Andreas Pfingsten
Jun.-Prof. Dr. Judith Schneider
Jun.-Prof. Dr. Weiqi Zhang