VALUATION OF EQUITY SECURITIES: HISTORY, THEORY AND APPLICATION - Hardcover

Poitras, Geoffrey

Hardcover

ISBN 10: 9814295388 ISBN 13: 9789814295383

Publisher: World Scientific Publishing Company, 2010

Synopsis

This book provides a comprehensive and rigorous treatment of academic and practitioner approaches to equity security valuation. Guided by historical and philosophical insights, conventional academic wisdom surrounding the ergodic properties of stochastic processes is challenged. In addition, the implications of a general stochastic interpretation of equity security valuation are provided. Valuation of Equity Securities will also be a good reference source for students and professionals interested in the theoretical and practical applications of equity securities.

About this title

Review:

The recent financial market collapse that led to the Great Recession of 2007-2009 is evidence that traditional efficient market theory of how markets evaluate equity securities is wrong. In this volume Geoffrey Poitras explains in understandable detail the (1) various theories that claim to explain the evaluation of securities, (2) why the conventional view can be incorrect, and (3) what factors must be taken into account in order to understand how the financial market evaluates equities. This book is a must read for economists, financial analysts, and individual investors. --Professor Paul Davidson, Visiting Scholar, Bernard Schwartz Center for Economic Policy Analysis New School for Social Research, New York, USA

Geoffrey provides an excellent account of the development of equity valuation. The historical description is very interesting while the theoretical analysis is very clear and comprehensive. I would strongly recommend this book to all graduate students. --Professor Da-Hsiang Donald Lien, Richard S Liu Distinguished Chair in Business, University of Texas, San Antonio

A different and novel historical and philosophical approach to ideas and techniques for valuation of equity securities. Covers the technical tool-of-trade in a simple and easy-to-understand way whilst stimulating our thinking about traditional frameworks and focus that may influence use of information and ideas on how value is generated. Includes a new chapter on valuation of Canadian oil sands and resource companies. --Trevor Wilkins, Associate Professor, Department of Accounting, National University of Singapore

This is a very interesting book on equity valuation. Especially the inclusion of recent events from Enron to the Global Financial Crisis makes it compulsory reading material for all categories of students -- from advanced undergraduates to PhD students. --Chris Veld, Professor of Finance, University of Stirling, Scotland

About this edition

• Publisher: World Scientific Publishing Company
• Publication date: 2010
• ISBN 10: 9814295388
• ISBN 13: 9789814295383
• Binding: Hardcover
• Number of pages: 764