Esteve García, Vicente; Navarro Ibáñez, Manuel; … - 2017
According to several empirical studies, the Present Value model fails to explain the behaviour of stock prices in the … structural changes would provide a better empirical description of the Present Value model of U.S. stock prices. The methodology …- Horioka Puzzle, 2008). The results obtained are consistent with the existence of linear cointegration between the log stock …