Abstract
Equity shares differ fundamentally from dated fixed interest securities (a) by the ability of dividend income to vary, and (b) due to the perpetual (or at least the indefinite) life of shares. Without the stabilising influence of fixed income and a terminal value, share prices must tend to be volatile, particularly as most share prices are closely linked to equity earnings and equity earnings tend to be volatile.
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© 1984 W. D. Fraser
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Fraser, W.D. (1984). Ordinary shares — prices and yields. In: Principles of Property Investment and Pricing. Palgrave, London. https://doi.org/10.1007/978-1-349-17683-0_6
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DOI: https://doi.org/10.1007/978-1-349-17683-0_6
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-32122-5
Online ISBN: 978-1-349-17683-0
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