Risk is not Sufficient to Generate a Return on Investment

Benjamin A. Jansen

No 202401, Working Papers from Middle Tennessee State University, Department of Economics and Finance

Abstract: This paper shows that theories focused solely on risk, and investors more generally, as the driver of asset returns may not be sufficiently reflecting relevant asset price inputs. This conclusion largely stems from prevalent asset pricing theories ignoring the firm side supply of value into their financial securities.

Keywords: Asset Pricing; Cash Flow; Firms; Risk (search for similar items in EconPapers)
JEL-codes: G12 G19 (search for similar items in EconPapers)
Date: 2024-04
New Economics Papers: this item is included in nep-cfn, nep-fmk and nep-rmg
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Persistent link: https://EconPapers.repec.org/RePEc:mts:wpaper:202401

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