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Stock Values and Fundamentals: Link or Irrationality?

Author

Listed:
  • Fornari, F.
  • Pericoli, M.

Abstract

In this paper, econometric techniques are employed to analyze the continuous and remarkable growth which has characterized international stock markets since 1995. The Campbell and Shiller dividend discount model, a dynamic version of Gordon's formula commonly employed by financial analysts to rate individual firms, is the main tool of the paper.

Suggested Citation

  • Fornari, F. & Pericoli, M., 2000. "Stock Values and Fundamentals: Link or Irrationality?," Papers 378, Banca Italia - Servizio di Studi.
    • Handle: RePEc:fth:banita:378
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    Cited by:

    1. Patrick Lünnemann, 2001. "Stock market valuation of old and new economy firms," BCL working papers 2, Central Bank of Luxembourg.

    More about this item

    Keywords

    DIVIDENDS ; PRICES ; MODELS;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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