Università della Svizzera italiana

Asset prices and demand shocks

Barbon, Andrea ; Franzoni, Francesco (Dir.)

Thèse de doctorat : Università della Svizzera italiana, 2020 ; 2020ECO002.

My dissertation consists of three chapters, each of which focuses on a different area of research in asset pricing. The first chapter deals with the informational role of brokerage firms during fire sales in the equity market. The second chapter exploits the ETF program by the bank of Japan as a quasi-natural experiment to measure the slope of the equity demand curve. The last chapter presents...

Università della Svizzera italiana

Accounting based valuation and implied discount factor

Brughelli, Moreno ; Barone-Adesi, Giovanni (Dir.)

Thèse de doctorat : Università della Svizzera italiana, 2012 ; 2012ECO003.

The focus of this doctoral thesis is on the determination of the implied cost of capital in the equity market. Three issues are investigated in detail: the relations between the cost of equity capital, the credit spread and the economic growth; the links between realized market returns and the cost of capital; and the forecasting power of the implied discount factor in predicting market...

Università della Svizzera italiana

Essays in asset pricing

Vedolin, Andrea Claudia ; Trojani, Fabio (Dir.)

Thèse de doctorat : Università della Svizzera italiana, 2010 ; 2010ECO008.

My dissertation aims at understanding the impact of uncertainty and disagreement on asset prices. It contains three main chapters. Chapter One gives a general introduction into the topic of partial information and heterogeneous beliefs. Chapter Two explains the link between credit spreads and the heterogeneous formation of expectations in an economy where agents with different perception of...