Adjusting the market risk premium to reflect the global financial crisis': A rejoinder

Steven Bishop; Michael Fitzsimmons; Bob Officer

Adjusting the market risk premium to reflect the global financial crisis': A rejoinder

Steven Bishop^*, Michael Fitzsimmons, Bob Officer

^*Corresponding author for this work

Research output: Contribution to journal › Comment/opinion › peer-review

1 Citation (Scopus)

Abstract

This rejoinder addresses the comments by Martin Hall in his response to our paper. We do not see the matters raised in his response as leading to a ' fundamental (and presently insurmountable) mismatch' between a short-term view and a long-term view. We believe it is incorrect to assume that the MRP is constant over time and that the long term does not ref lect the series of short terms that it comprises.

Original language	English
Pages (from-to)	15-16
Number of pages	2
Journal	JASSA
Volume	2
Issue number	4
Publication status	Published - 2011
Externally published	Yes

Keywords

Cost of equity
Global financial crisis
Market risk premium
Weighted average cost of capital (WACC)

Cite this

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title = "Adjusting the market risk premium to reflect the global financial crisis': A rejoinder",

abstract = "This rejoinder addresses the comments by Martin Hall in his response to our paper. We do not see the matters raised in his response as leading to a ' fundamental (and presently insurmountable) mismatch' between a short-term view and a long-term view. We believe it is incorrect to assume that the MRP is constant over time and that the long term does not ref lect the series of short terms that it comprises.",

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N2 - This rejoinder addresses the comments by Martin Hall in his response to our paper. We do not see the matters raised in his response as leading to a ' fundamental (and presently insurmountable) mismatch' between a short-term view and a long-term view. We believe it is incorrect to assume that the MRP is constant over time and that the long term does not ref lect the series of short terms that it comprises.

AB - This rejoinder addresses the comments by Martin Hall in his response to our paper. We do not see the matters raised in his response as leading to a ' fundamental (and presently insurmountable) mismatch' between a short-term view and a long-term view. We believe it is incorrect to assume that the MRP is constant over time and that the long term does not ref lect the series of short terms that it comprises.

KW - Cost of equity

KW - Global financial crisis

KW - Market risk premium

KW - Weighted average cost of capital (WACC)

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M3 - Comment/opinion

AN - SCOPUS:84857885203

SN - 0313-5934

VL - 2

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JO - JASSA

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ER -

Adjusting the market risk premium to reflect the global financial crisis': A rejoinder

Abstract

Keywords

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