Neoklassische Grundlagen "moderner" Finanzierungstheorie
Abstract
Der Beitrag enthält einen Abriß grundlegender Methoden und Resultate der zahlungstromsorientierten, neoklassischen Finanzierungstheorie. Repräsentative neoklassische Modelle bei Sicherheit und Unsicherheit - z.B. Fisher-Separation, risikoneutrale Bewertung, Capital Asset Pricing Model, Optionsbewertung nach Black/Scholes - werden auf ihre gemeinsame Wurzel in Gestalt des Trennungssatzes von Minkowski und Farkas zurückgeführt, der als Arbitragefreiheitsbedingung für gleichgewichtige Kapitalmärkte interpretierbar ist. Eine Skizze der Grenzen und Perspektiven des neoklassischen Ansatzes beschließt den BeitragDownload Info
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Bibliographic Info
Article provided by Institute of SocioEconomics in its journal Homo Oeconomicus.
Volume (Year): 14 (1997)
Issue (Month): ()
Pages: 63-98
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