Browsing Finance & Economics by Author "Elgammal M.M."
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Rational functions: an alternative approach to asset pricing
Chakraborty N.; Elgammal M.M.; McMillan D. ( Routledge , 2019 , Article)This paper shows that asset prices are linear polynomials of various underlying explanatory factors and asset returns being ratios of these polynomials, are rational functions that do not add linearly when averaging. Hence, ...