Publications

Educators

Purchase

1984
Working Paper

Earnings Variability and Variance Bounds Tests for Rationality of Stock Market Prices

By: Robert C. Merton and Terry A. Marsh

May – June 1981
Article

Is Your Stock Worth Its Market Price?

By: W. E. Fruhan Jr. and Thomas R. Piper

Keywords: Stocks; Price; Value

1980
Working Paper

Taxation and the Ex-dividend Day Behavior of Common Stock Prices

By: Jerry R. Green

The behavior of stock prices around ex-dividend days has been suggested as evidence for tax-induced clientele effects and as a means to estimate the average effective tax rate faced by investors. In this paper these possibilities are examined theoretically and... View Details

Keywords: Taxation; Stocks; Price

January 1978
Article

Pooling vs. Purchase: The Effects of Accounting for Mergers on Stock Prices

By: Robert S. Kaplan, Hai Hong and Gershon Mandelker

Keywords: Accounting; Mergers and Acquisitions; Stocks; Price

May 1976
Article

The Impact on Option Pricing of Specification Error in the Underlying Stock Price Returns

By: Robert C. Merton

Keywords: Price; Stocks

January–February 1976
Article

Option Pricing When Underlying Stock Returns are Discontinuous

By: Robert C. Merton

Keywords: Price; Stocks; Assets

March 1973
Article

The Relationship between Put and Call Option Prices: Comment

By: Robert C. Merton

Keywords: Price; Stocks

Article

Accounting Changes and Stock Prices

By: Robert S. Kaplan and Richard Roll

Keywords: Stocks; Accounting

Forthcoming
Article

Bank Risk-Taking and the Real Economy: Evidence from the Housing Boom and Its Aftermath

By: Antonio Falato, Giovanni Favara and David Scharfstein

We present evidence that pressure to maximize short-term stock prices and earnings leads banks to increase risk. We start by showing that banks increase risk when they transition from private to public ownership through a public listing or an acquisition. The increase... View Details

Keywords: Ownership Type; Risk and Uncertainty; Financial Markets; Banks and Banking; Transition; Price

Forthcoming
Article

Who Values Democracy?

By: Max Miller

This paper examines the conventional view that redistribution is central to the democratization process using data from stock markets. Consistent with this view, democratizations have a large, negative impact on asset valuations driven by a rise in redistribution risk.... View Details

Keywords: Government and Politics; Risk and Uncertainty; Financial Crisis; Macroeconomics; Financial Markets; Valuation