Valuation of Equity Securities: History, Theory and Application
Author(s): Geoffrey Poitras (Author)
Publisher: World Scientific Publishing Company
Publication Date: 21 Feb. 2011
Language: English
Print length: 756 pages
ISBN-10: 9814295388
ISBN-13: 9789814295383
Book Description
This book provides a comprehensive and rigorous treatment of academic and practitioner approaches to equity security valuation. Guided by historical and philosophical insights, conventional academic wisdom surrounding the ergodic properties of stochastic processes is challenged. In addition, the implications of a general stochastic interpretation of equity security valuation are provided. “Valuation of Equity Securities” will also be a good reference source for students and professionals interested in the theoretical and practical applications of equity securities.
Editorial Reviews
Review
The recent financial market collapse that led to the Great Recession of 2007 2009 is evidence that traditional efficient market theory of how markets evaluate equity securities is wrong. In this volume Geoffrey Poitras explains in understandable detail the (1) various theories that claim to explain the evaluation of securities, (2) why the conventional view can be incorrect, and (3) what factors must be taken into account in order to understand how the financial market evaluates equities. This book is a must read for economists, financial analysts, and individual investors. –Professor Paul Davidson, Visiting Scholar, Bernard Schwartz Center for Economic Policy Analysis, New School for Social Research New York, USA
A different and novel historical and philosophical approach to ideas and techniques for valuation of equity securities. Covers the technical tool-of-trade in a simple and easy-to-understand way whilst stimulating our thinking about traditional frameworks and focus that may influence use of information and ideas on how value is generated. Includes a new chapter on valuation of Canadian oil sands and resource companies. –Trevor Wilkins, Associate Professor, Department of Accounting (National University of Singapore)
This is a very interesting book on equity valuation. Especially the inclusion of recent events from Enron to the Global Financial Crisis makes it compulsory reading material for all categories of students from advanced undergraduates to PhD students. –Chris Veld, Professor of Finance (University of Stirling, Scotland)
From the Back Cover
This book provides a comprehensive and rigorous treatment of academic and practitioner approaches to equity security valuation. Guided by historical and philosophical insights, conventional academic wisdom surrounding the ergodic properties of stochastic processes is challenged. In addition, the implications of a general stochastic interpretation of equity security valuation are provided. Valuation of Equity Securities will also be a good reference source for students and professionals interested in the theoretical and practical applications of equity securities.
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