Irrational Exuberance Reconsidered

The Cross Section of Stock Returns

  • Mathias Külpmann

Part of the Springer Finance book series (FINANCE)

Table of contents

  1. Front Matter
    Pages I-XII
  2. Irrational Exuberance Reconsidered

  3. Overshooting in the Cross Section of Stock Returns: The Winner-Loser Effect

    1. Front Matter
      Pages 37-37
    2. Mathias Külpmann
      Pages 39-52
    3. Mathias Külpmann
      Pages 53-76
  4. Explaining the Cross Section of Stock Returns: CAPM versus Fundamentals

    1. Front Matter
      Pages 77-77
    2. Mathias Külpmann
      Pages 79-102
    3. Mathias Külpmann
      Pages 103-119
    4. Mathias Külpmann
      Pages 121-151
  5. Corporate Control

    1. Front Matter
      Pages 183-183
    2. Mathias Külpmann
      Pages 205-211
  6. Back Matter
    Pages 213-230

About this book


Does the stock market overreact? Recent capital market turbulences have cast doubt whether the behaviour of stock markets is in line with rational investor behaviour. This monograph presents a framework to evaluate whether the stock market is in line with underlying fundamentals. This new and revised edition offers an up to date introduction to the controversy between rational asset pricing and behavioural finance. Empirical evidence of stock market overreaction are investigated within the paradigms of rational asset pricing and behavioural finance. Although this monograph will not promise the reader to become a millionaire, it offers a road to obtain a deeper understanding of the forces which drive stock returns. It should be of interest to anyone interested in what drives performance in the stock market.


Asset Pricing Behavioural Finance Finance Portfolio Portfolio Management Stock Market Performance linear optimization

Authors and affiliations

  • Mathias Külpmann
    • 1
  1. 1.BerlinGermany

Bibliographic information

  • DOI
  • Copyright Information Springer-Verlag Berlin Heidelberg 2004
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Springer Book Archive
  • Print ISBN 978-3-642-05726-7
  • Online ISBN 978-3-540-24765-4
  • Series Print ISSN 1616-0533
  • Buy this book on publisher's site
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