Stock Values and Fundamentals: Link or Irrationality?

Fabio Fornari () and Marcello Pericoli

Working Papers from Banca Italia - Servizio di Studi

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.

Keywords: DIVIDENDS; PRICES; MODELS (search for similar items in EconPapers)
JEL-codes: G12 G15 (search for similar items in EconPapers)
Pages: 37 pages
Date: 2000
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Working Paper: Stock Values and Fundamentals; Link or Irrationality? (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:banita:378

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