HEAVY-TAILED DISTRIBUTIONS AND THE CANADIAN STOCK MARKET RETURNS
Many of financial engineering theories are based on so-called “complete markets” and on the use of the Black-Scholes formula. The formula relies on the assumption that asset prices follow a log-normal distribution, or in other words, the daily fluctuations in prices viewed as percentage changes foll...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Nicolaus Copernicus University in Toruń
2017-12-01
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| Series: | Copernican Journal of Finance & Accounting |
| Subjects: | |
| Online Access: | https://apcz.umk.pl/czasopisma/index.php/CJFA/article/view/15266 |