Abstract: An Exploratory Analysis of the Simultaneity of Stock Price Movements

Charles P. Jones and Michael A. Simkowitz

Journal of Financial and Quantitative Analysis, 1972, vol. 7, issue 2, 1669-1672

Abstract: In the last decade the theories of Investor behavior and capital markets have broadened to recognize the importance of the portfolio decision of investors and the simultaneity of price determination of equity values. Tobin, Sharpe, Lintner, and Lerner and Carleton have all made contributions to the theory that equity markets are essentially a system in which many investors simultaneously seek to maximize their wealth by allocating their available liquidity among various equities.

Date: 1972
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