Index of [finpko.ku.edu]

The futures price of a stock index is always less than the expected future value of the index. This follows from Section 5.14 and the fact that the index has positive systematic risk. For an alternative argument, letbe the expected return required by investors on the index so that. Becauseand, it follows that. ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download