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Discussion of arbitrage-free valuation of exhaustible resource firms

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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Discussion of arbitrage-free valuation of exhaustible resource firms. / Shackleton, Mark B.
In: Journal of Business Finance and Accounting, Vol. 25, No. 9-10, 01.11.1998, p. 1391-1395.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Shackleton, MB 1998, 'Discussion of arbitrage-free valuation of exhaustible resource firms', Journal of Business Finance and Accounting, vol. 25, no. 9-10, pp. 1391-1395. https://doi.org/10.1111/1468-5957.00243

APA

Shackleton, M. B. (1998). Discussion of arbitrage-free valuation of exhaustible resource firms. Journal of Business Finance and Accounting, 25(9-10), 1391-1395. https://doi.org/10.1111/1468-5957.00243

Vancouver

Shackleton MB. Discussion of arbitrage-free valuation of exhaustible resource firms. Journal of Business Finance and Accounting. 1998 Nov 1;25(9-10):1391-1395. doi: 10.1111/1468-5957.00243

Author

Shackleton, Mark B. / Discussion of arbitrage-free valuation of exhaustible resource firms. In: Journal of Business Finance and Accounting. 1998 ; Vol. 25, No. 9-10. pp. 1391-1395.

Bibtex

@article{a0ca738729b844fb8202db96742502c1,
title = "Discussion of arbitrage-free valuation of exhaustible resource firms",
abstract = "In summary, if equity markets value firms using some latent pricing model, many aspects of which can be captured by multifactor models, we should be able to recover model parameters from observed equity values and futures prices.Thus theHotelling Valuation Principle can be extended to incorporate risk pricing and multiple uncertainties in which setting futures play a special role as certainty equivalents. The paper by Lehocky and Paxson marks one such examination of a firm's value and will no doubt stimulate more.",
author = "Shackleton, {Mark B.}",
year = "1998",
month = nov,
day = "1",
doi = "10.1111/1468-5957.00243",
language = "English",
volume = "25",
pages = "1391--1395",
journal = "Journal of Business Finance and Accounting",
issn = "0306-686X",
publisher = "Wiley-Blackwell",
number = "9-10",

}

RIS

TY - JOUR

T1 - Discussion of arbitrage-free valuation of exhaustible resource firms

AU - Shackleton, Mark B.

PY - 1998/11/1

Y1 - 1998/11/1

N2 - In summary, if equity markets value firms using some latent pricing model, many aspects of which can be captured by multifactor models, we should be able to recover model parameters from observed equity values and futures prices.Thus theHotelling Valuation Principle can be extended to incorporate risk pricing and multiple uncertainties in which setting futures play a special role as certainty equivalents. The paper by Lehocky and Paxson marks one such examination of a firm's value and will no doubt stimulate more.

AB - In summary, if equity markets value firms using some latent pricing model, many aspects of which can be captured by multifactor models, we should be able to recover model parameters from observed equity values and futures prices.Thus theHotelling Valuation Principle can be extended to incorporate risk pricing and multiple uncertainties in which setting futures play a special role as certainty equivalents. The paper by Lehocky and Paxson marks one such examination of a firm's value and will no doubt stimulate more.

U2 - 10.1111/1468-5957.00243

DO - 10.1111/1468-5957.00243

M3 - Journal article

AN - SCOPUS:77951474934

VL - 25

SP - 1391

EP - 1395

JO - Journal of Business Finance and Accounting

JF - Journal of Business Finance and Accounting

SN - 0306-686X

IS - 9-10

ER -