scholarly journals Understanding the Risk-Return Relation: The Aggregate Wealth Proxy Actually Matters

2018 ◽  
Vol 37 (4) ◽  
pp. 721-735
Author(s):  
Scott Cederburg ◽  
Michael S. O’Doherty
Keyword(s):  
Risk Return ◽  
Aggregate Wealth

Beyond GDP: The Quest for a Measure of Social Welfare. Part I

2012 ◽  
pp. 67-93 ◽  
Author(s):  
M. Fleurbaey
Keyword(s):  
Economic Theory ◽  
Social Welfare ◽  
Well Being ◽  
National Product ◽  
Future Generations ◽  
Modern Economic ◽  
Aggregate Wealth ◽  
Net National Product ◽  
Sustainability Policy ◽  
Beyond Gdp

The first part of the paper is devoted to the monetary indicators of social welfare. It is shown which methods of quantitative estimating the aggregate wealth and well-being are available in the modern economic theory apart from the traditional GDP measure. The limitations of the methods are also discussed. The author shows which measures of welfare are adequate in the dynamic context: he considers the problems of intertemporal welfare analysis using the Net National Product (NNP) for the sustainability policy and in the context of concern for well-being of the future generations.

Risk, Return, and Regulation

CFA Magazine ◽  
2017 ◽  
Vol 28 (4) ◽  
pp. 28-29
Author(s):  
Ralph Wanger
Keyword(s):  
Risk Return

Consumption, Aggregate Wealth, and Expected Stock Returns

CFA Digest ◽  
2002 ◽  
Vol 32 (1) ◽  
pp. 52-53
Author(s):  
Johann U. de Villiers
Keyword(s):  
Stock Returns ◽  
Expected Stock Returns ◽  
Aggregate Wealth

There Is a Risk–Return Trade-Off After All

CFA Digest ◽  
2005 ◽  
Vol 35 (4) ◽  
pp. 71-72
Author(s):  
Frank T. Magiera
Keyword(s):  
Trade Off ◽  
Risk Return

Estimation of Risk-Return Relation Parameters in the Context of the Apt Model

2009 ◽  
Vol 4 (1) ◽  
pp. 26-38
Author(s):  
Małgorzata Kobylińska ◽  
Lesław Markowski
Keyword(s):  
Risk Return ◽  
Estimation Of Risk

A Single Period Stochastic Model for Maximising Firms Value

GIS Business ◽  
2016 ◽  
Vol 11 (6) ◽  
pp. 39-45
Author(s):  
J. P. Singh
Keyword(s):  
Capital Market ◽  
Firm Value ◽  
Capital Asset Pricing ◽  
Capital Asset ◽  
Asset Pricing Model ◽  
Value Maximization ◽  
Risk Return ◽  
Bankruptcy Costs ◽  
Single Period ◽  
Debt Capacity

This article sets up a single period value maximization model for the firm based on stochastic end-of-period cash inflows, stochastic bankruptcy costs and taxes based on income rather than wealth. The risk-return trade-off is captured in the Capital Asset Pricing Model. Thus, the model also assumes a perfect capital market and market equilibrium. The model establishes the existence of a unique optimal financial leverage at which the firm value is maximized, this leverage being less than the maximum debt capacity of the firm.

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