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Evidence On The Existence Of Common Stock Inflation Hedges

dc.contributor.authorBernard, Victor Len_US
dc.contributor.authorFrecka, Thomas J.en_US
dc.date.accessioned2014-09-03T16:51:15Z
dc.date.available2014-09-03T16:51:15Z
dc.date.issued1983-12en_US
dc.identifier.citationBernard, Victor L; Frecka, Thomas J. (1983). "Evidence On The Existence Of Common Stock Inflation Hedges." Journal of Financial Research 6(4): 301-312. <http://hdl.handle.net/2027.42/108256>en_US
dc.identifier.issn0270-2592en_US
dc.identifier.issn1475-6803en_US
dc.identifier.urihttps://hdl.handle.net/2027.42/108256
dc.description.abstractPrevious researchers have been unable to identify (on an ex ante basis) inflation hedge portfolios consisting of common stocks. This study demonstrates a procedure for forming common stock portfolios that offer returns that vary positively with unexpected inflation. The strategy could have been used to hedge against purchasing power risk during the 1974–1979 period. In addition to its practical value, the research has important implications for capital asset pricing theory since the existence of hedge portfolios is a necessary condition for the superiority of the multi‐period CAPM over the single‐period models.en_US
dc.publisherGraduate School of Business, University of Michiganen_US
dc.publisherWiley Periodicals, Inc.en_US
dc.titleEvidence On The Existence Of Common Stock Inflation Hedgesen_US
dc.typeArticleen_US
dc.rights.robotsIndexNoFollowen_US
dc.subject.hlbsecondlevelFinanceen_US
dc.subject.hlbtoplevelBusinessen_US
dc.description.peerreviewedPeer Revieweden_US
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/108256/1/jfir00340.pdf
dc.identifier.doi10.1111/j.1475-6803.1983.tb00340.xen_US
dc.identifier.sourceJournal of Financial Researchen_US
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dc.owningcollnameInterdisciplinary and Peer-Reviewed


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