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Title:Borzni mehurčki in racionalnost špekuliranja
Authors:ID Ferbar, Janez (Author)
Files:URL http://www.dlib.si/details/URN:NBN:SI:DOC-GRTJ9DC0
 
Language:Slovenian
Work type:Not categorized
Typology:1.21 - Polemic, Discussion, Commentary
Organization:EPF - Faculty of Business and Economics
Abstract:V članku analiziramo borzne mehurčke in se sprašujemo o njihovem obstoju. S temeljnega vidika je namreč v času nastajanja mehurček nemogoče prepoznati, pač pa moramo počakati dovolj dolgo, da vidimo, če so bili tečaji morda upravičeni s prihodnjimi denarnimi tokovi. Navedemo tudi druge tržne omejitve, zaradi katerih borzni mehurčki na trgu z racionalnimi pričakovanji ne bi smeli obstajati. Ker pa empirični testi mehurčke potrjujejo, analiziramo vedenje racionalnih trgovcev - špekulantov, ki so zaradi možnosti kasnejše preprodaje ali/in kapitalskega dobička pripravljeni za finančni instrument plačati več, kot bi bili pripravljeni plačati, če bi ga morali zadržati za vedno.
Keywords:borze, borzništvo
Publisher:Društvo ekonomistov Maribor
Year of publishing:2009
Number of pages:str. 113-116
Numbering:Letn. 55, št. 1/2
PID:20.500.12556/DKUM-52522 New window
UDC:336.76.066
ISSN on article:0547-3101
COBISS.SI-ID:9772316 New window
NUK URN:URN:SI:UM:DK:RZDC1IR2
Publication date in DKUM:10.07.2015
Views:1360
Downloads:66
Metadata:XML DC-XML DC-RDF
Categories:Misc.
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Record is a part of a journal

Title:Naše gospodarstvo : revija za aktualna gospodarska vprašanja
Shortened title:Naše gospod.
Publisher:Ekonomsko-poslovna fakulteta, Društvo ekonomistov Maribor, Ekonomski center Maribor
ISSN:0547-3101
COBISS.SI-ID:751364 New window

Secondary language

Language:English
Title:Stock market bubbles and rationality of speculating
Abstract:In this paper we analyze stock market bubbles and we question their existence. We argue that from the fundamental point of view it is impossible to identify a bubble immediately, but we have to wait a sufficient amount of time to determine whether prices can be justified by future cash flows. We also review other market constraints which show that on a market with rational expectations equilibrium, bubbles should not exist. However, empirical tests show that bubbles do exist and we analyze the behaviour of rational traders, or speculators, who are willing to pay more for an asset that they know they can later resell than they would be willing to pay if they had to keep the asset forever.


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This document is a part of these collections:
  1. Naše gospodarstvo

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