The thesis builds a model for pricing the liabilities of a firm. The liabilities - stocks, loans, bonds - fundamentally all depend on the value of the firm's assets. By looking at balance sheet data, such as the nominal amount of debt outstanding, and market prices, such as time series of stock prices, the value and volatility of the assets can be estimated. Finally, e.g. bank loans to the same firm can be priced in terms of these values. Thus, the purpose of the whole exercise is to use the information content in stock prices to infer the value of loans. / Diss. Stockholm : Handelshögsk.
| Identifer | oai:union.ndltd.org:UPSALLA1/oai:DiVA.org:hhs-663 |
| Date | January 1998 |
| Creators | Reneby, Joel |
| Publisher | Handelshögskolan i Stockholm, Finansiell Ekonomi (FI), Stockholm : Economic Research Institute, Stockholm School of Economics [Ekonomiska forskningsinstitutet vid Handelshögsk.] (EFI) |
| Source Sets | DiVA Archive at Upsalla University |
| Language | English |
| Detected Language | English |
| Type | Doctoral thesis, monograph, info:eu-repo/semantics/doctoralThesis, text |
| Format | application/pdf |
| Rights | info:eu-repo/semantics/openAccess |
Page generated in 0.1073 seconds