scholarly journals An Innovative Thinking on the Concepts of Ex-Ante Value, Ex-Post Value and the Realized Value (Price)

2015 ◽  
Vol 6 (1) ◽  
pp. 48
Author(s):  
Mohammad Ali Tareq
Keyword(s):  
Asset Pricing ◽  
Expected Value ◽  
Pricing Models ◽  
Asset Pricing Models ◽  
Ex Post ◽  
Ex Ante ◽  
Innovative Thinking ◽  
Definition Of

Researchers have been considering the realized value as the ex-post realization of theex-ante value. They have argued that that the realized values have failed to estimate the expectedvalue in asset-pricing models. We provide a new definition of the ex-post measurement and weshow that considering realized value as the ex-post realization of the ex-ante value is misleadingand this has led to the failure in estimating the expected value.

The Predictive Performance of Asset Pricing Models: Evidence from the Australian Securities Exchange

2016 ◽  
Vol 19 (04) ◽  
pp. 1650023 ◽  
Author(s):  
Robert J. Bianchi ◽  
Michael E. Drew ◽  
Timothy Whittaker
Keyword(s):  
Asset Pricing ◽  
Predictive Performance ◽  
Equity Capital ◽  
Cost Of Equity Capital ◽  
Cost Of Equity ◽  
Pricing Models ◽  
Observation Window ◽  
Asset Pricing Models ◽  
Ex Post ◽  
The Cost

This paper considers the accuracy (or otherwise) of cost of equity estimates provided by a range of Australian asset pricing models on industry returns. The results suggest that a simple, constant-benchmark approach (fixed excess return of five percent per annum) provides the best forecast for the cost of equity capital for the various industry segments of the Australian Securities Exchange examined across the observation window. Our results from Australia corroborate U.S. findings regarding the disconnect between asset pricing models that provide the best ex-post explanation of asset returns and models that produce superior ex-ante predictions of the cost of capital.

Implications of Predictability Across Horizons for Asset Pricing Models

2012 ◽  
Author(s):  
Carlo A. Favero ◽  
Fulvio Ortu ◽  
Andrea Tamoni ◽  
Haoxi Yang
Keyword(s):  
Asset Pricing ◽  
Pricing Models ◽  
Asset Pricing Models

Asset Pricing Models? - A Different Approach!

2013 ◽  
Author(s):  
Vladislav Vacek ◽  
Robert Gottfried Kuklik
Keyword(s):  
Asset Pricing ◽  
Pricing Models ◽  
Asset Pricing Models
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