On 28th November OxTalks will move to the new Halo platform and will become 'Oxford Events' (full details are available on the Staff Gateway).
There will be an OxTalks freeze beginning on Friday 14th November. This means you will need to publish any of your known events to OxTalks by then as there will be no facility to publish or edit events in that fortnight. During the freeze, all events will be migrated to the new Oxford Events site. It will still be possible to view events on OxTalks during this time.
If you have any questions, please contact halo@digital.ox.ac.uk
We incorporate stocks that pay no dividends into an otherwise standard, parsimonious dynamic asset pricing framework. We find that such a simple feature leads to profound asset price implications, which are all supported empirically. In particular, we demonstrate that no-dividend stocks command lower mean returns, but also have higher return volatilities and higher market betas than comparable stocks that pay dividends. We also show that the presence of no-dividend stocks in the stock market leads to a lower correlation between the stock market return and aggregate consumption growth rate, a non-monotonic and even a negative relation between the stock market risk premium and its volatility, and a downward sloping term structure of equity risk premia. We provide straightforward intuition for all these results and the underlying economic mechanisms at play.
Please sign up for meetings below:
docs.google.com/spreadsheets/d/1eTUvKW-onEzp681ri-yQa8KSWOYRJC81y_6GEmwQTp0/edit#gid=0
