活動起日：2018-04-24 發佈日期：2018-04-16 瀏覽數：100 2018-04-16 更新
本系擬於 4/24 (二) 邀請 Hebrew University 的 Prof. Doron Avramov 至本所進行專題演講，相關訊息如下：
時間: 4/24 (二) 14:30-16:00
地點: 管理學院一號館 204 教室
講題: Bonds, Stocks, and Sources of Mispricing
The intersection of high market sentiment and firm-level financial distress characterizes episodes of inflated bond and stock prices to the extent that such securities are correctly priced otherwise. Asset overvaluation is attributable to sentiment-driven investors, both retail and institutional, who underestimate the severe implications of financial distress for firms' future prospects. Anomalous patterns in the cross-section of stock and bond returns emerge as overpricing is corrected. As anomalous patterns concentrate in a remarkably small fraction of firm-month observations, violations of the market efficiency paradigm (at least due to anomalies) are not so egregious after all.