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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| 格式: | Article |
| 語言: | English |
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Nicolaus Copernicus University in Toruń
2017-12-01
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| 叢編: | Copernican Journal of Finance & Accounting |
| 主題: | |
| 在線閱讀: | https://apcz.umk.pl/czasopisma/index.php/CJFA/article/view/15266 |