Accuracy of linear valuation rules in industry-segmented environments
作者： Suk S. Lim , Shyam Sunder
DOI: 10.1016/0165-4101(90)90029-4
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摘要: Abstract The comparative ability of valuation rules using economy-weighted versus industry-weighted price indexes to estimate the unobserved economic value a basket assets in modelled. Industry-weighted do not necessarily provide valuations higher accuracy than indexes. Dominance depends on (1) relative magnitude mean and variability changes (2) errors measurement current data. Larger favor indexes; larger prices
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