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Paper Details

Views and asymmetric information effects on asset pricing

Imtithel Sendi, Makram Bellalah, Chaker Aloui

Journal Title:Basic Research Journal of Business Management and Accounts
Abstract


In this paper we show the effect of views and asymmetric information on asset pricing. It is well shown that individuals invest in asset that they know about. In addition, people differ from each other and each individual has his own personality, characters, experiences etc. So he expresses different reactions, sentiments and views depending on moods, situations and circumstances. In this paper we present a new reading of Merton (1987)s model by including investors views. We suppose that each investor has information and particular views about a subset of available assets. Keywords: asset pricing, views, investors psychology, asymmetric information, investors views.

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