Polk, Christopher, 1998, The market as a hedge, Working paper, Northwestern University.  Home/Search Document Details and Download
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Portfolio Choice and Asset Prices; The Importance of.. - Heaton, Lucas (1999) (1 citation) (Correct)
....variable that is the wealth of stockholders. Since entrepreneurs are important stockholders, the addition of their income moves the model closer to including a direct measure of the wealth of stockholders and hence the importance of the proxies is reduced. Consistent with this interpretation, Polk (1998) finds that there is substantial covariance (both conditionally and unconditionally) between the Fama French factors and the growth rate of entrepreneurial income. It should be noted, however, that the statistical insignificance of the Fama French factors when examined jointly appears to be due ....
Polk, Christopher, 1998, The market as a hedge, Working paper, Northwestern University.
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