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Share Markets and Portfolio Theory

Share Markets and Portfolio Theory REVIEWS Share Markets and Portfolio Theory, edited by R. Ball, P. Brown, F. Finn, and R. Officer. University of Queensland Press, St. Lucia, 1980. 369pp. This is an excellent collection of articles edi ted, and primarily written, by the leading academic researchers in Finance from Australia. Indeed, 18 of the 27 essays included in the collection are authored or co-authored by one of the four editors. Most of the articles are data-specific to the Australian share market and represent, for the most part, empirical tests and replications of studies performed on overseas markets, primarily U.S. stock markets. The title of this volume is perhaps unfortunate since, wi th the exception of very fine and readable introductory essays by R.R. Officer on "The Stock Market: An Introduction to Market Concepts and Australian Evidence" and "Performance Measurement", there is little theory of any type developed and certainly not with respect to portfolios. Redundant (unavoidably so) theoretical background sections and reviews of the literature are presented near the outset of most of these already published articles; but to emphasise portfolio theory in the title seems somewhat contrived to this reviewer, and unnecessary. (The authors, on the other hand, are themselves nw quite http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Australian Journal of Management SAGE

Share Markets and Portfolio Theory

Altman, Edward I.
Australian Journal of Management , Volume 6 (1): 3 – Jun 1, 1981
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Publisher
SAGE
Copyright
Copyright © by SAGE Publications
ISSN
0312-8962
eISSN
1327-2020
DOI
10.1177/031289628100600108
Publisher site
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Abstract

REVIEWS Share Markets and Portfolio Theory, edited by R. Ball, P. Brown, F. Finn, and R. Officer. University of Queensland Press, St. Lucia, 1980. 369pp. This is an excellent collection of articles edi ted, and primarily written, by the leading academic researchers in Finance from Australia. Indeed, 18 of the 27 essays included in the collection are authored or co-authored by one of the four editors. Most of the articles are data-specific to the Australian share market and represent, for the most part, empirical tests and replications of studies performed on overseas markets, primarily U.S. stock markets. The title of this volume is perhaps unfortunate since, wi th the exception of very fine and readable introductory essays by R.R. Officer on "The Stock Market: An Introduction to Market Concepts and Australian Evidence" and "Performance Measurement", there is little theory of any type developed and certainly not with respect to portfolios. Redundant (unavoidably so) theoretical background sections and reviews of the literature are presented near the outset of most of these already published articles; but to emphasise portfolio theory in the title seems somewhat contrived to this reviewer, and unnecessary. (The authors, on the other hand, are themselves nw quite

Journal

Australian Journal of Management – SAGE

Published: Jun 1, 1981

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