Expectations and the Structure of Share Prices
ebook ∣ National Bureau of Economic Research Monograph
By John G. Cragg
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John G. Cragg and Burton G. Malkiel collected detailed forecasts of professional investors concerning the growth of 175 companies and use this information to examine the impact of such forecasts on the market evaluations of the companies and to test and extend traditional models of how stock market values are determined.
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