Essays on macroeconomic risk in financial markets
This thesis contains three essays. In the first essay, I provide new evidence on the failure of the Q theory of investment. The Q theory implies the state-by-state equivalence of stock returns and investment returns. However in the data, I find that investment and stock returns are negatively correl...
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| Format: | Others |
| Language: | English |
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University of British Columbia
2008
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| Online Access: | http://hdl.handle.net/2429/2849 |