Abstract
In a treatise that was published by an engineer turned economist and financier, who persevered and even had to pay for the publication of his great work, Williams established the field of fundamentals analysis and, for the first time, provided a scientifically-based methodology to value corporations and their securities. His methodology of securities pricing based on discounted present values formed the foundation of modern asset pricing and also formed the foundation for securities returns, which was later augmented by measures of risk and uncertainty.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Notes
Jack L. Treynor and Fischer Black (1976) “Corporate Investment Decisions”, in Stewart C. Myers (ed.), Modern Developments in Financial Management, New York: Praeger, pp. 310–27.
John Burr Williams, “The Path to Equilibrium,” The Quarterly Journal of Economics, Vol. 81, No. 2, May, 1967, pp. 241–55.
Author information
Authors and Affiliations
Copyright information
© 2015 Colin Read
About this chapter
Cite this chapter
Read, C. (2015). Legacy and Later Life. In: The Corporate Financiers. Great Minds in Finance. Palgrave Macmillan, London. https://doi.org/10.1057/9781137341280_6
Download citation
DOI: https://doi.org/10.1057/9781137341280_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-46505-7
Online ISBN: 978-1-137-34128-0
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)