The investment horizon and asset pricing models
The Life Cycle Hypothesis suggests that the primary motivation for saving is to accumulate resources in order to fund retirement. This suggests that investors have heterogeneous investment horizons, yet many tests of the CAPM assume homogeneous horizons.
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|Source:||Australian Journal of Management|
|01_Walsh_The_investment_horizon_and_2015.pdf||772.21 kB||Adobe PDF||Request a copy|
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