Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/38944 
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dc.contributor.authorHeer, Burkharden
dc.contributor.authorMaußner, Alfreden
dc.date.accessioned2010-05-27-
dc.date.accessioned2010-08-18T11:18:33Z-
dc.date.available2010-08-18T11:18:33Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/38944-
dc.description.abstractTurnovsky (1995) derives in a continuous-time model of a decentralized economy that the correct specification of the firm's objective function is to maximize the initial value of its outstanding securities. The firm value is the discounted flow of real earnings. For the discrete-time version of the model, we show that the correct computation of the firm value needs to be modified. Depending on the specific formula employed, different values of the equity premium result.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x3042en
dc.subject.jelG12en
dc.subject.jelC63en
dc.subject.jelE22en
dc.subject.jelE32en
dc.subject.ddc330en
dc.subject.keywordasset pricesen
dc.subject.keywordfirm valueen
dc.subject.keywordequity premiumen
dc.subject.stwUnternehmensbewertungen
dc.subject.stwRisikoprämieen
dc.subject.stwBetriebsvermögenen
dc.subject.stwEinnahmenen
dc.subject.stwDiscounted Cash Flowen
dc.subject.stwTheorieen
dc.titleA note on the computation of the equity premium and the market value of firm equity-
dc.typeWorking Paperen
dc.identifier.ppn626802946en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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