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

Published online by Cambridge University Press:  19 October 2009

Charles P. Jones  and
Michael A. Simkowitz
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Extract

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.

Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 7 , Issue 2 , March 1972 , pp. 1669 - 1672
Copyright
Copyright © School of Business Administration, University of Washington 1972

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