Why is the separation principle still valid in a world with (a) Nonmarketable assets? (b) A nonstochastic
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(a) Nonmarketable assets?
(b) A nonstochastic risk-free rate?
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a Given that some assets are nonmarketable the equilibrium pricing equation is given by Mayers 1972 ...View the full answer
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Related Book For
Financial Theory and Corporate Policy
ISBN: 978-0321127211
4th edition
Authors: Thomas E. Copeland, J. Fred Weston, Kuldeep Shastri
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