INVITED EDITORIAL COMMENT The State of Research in Finance

• Published in: Journal of portfolio management Vol. 43; no. 4; pp. 1 - 4
• Main Author: Kritzman, Mark
• Format: Journal Article
• Language: English
• Published: London Pageant Media 01.07.2017
• Subjects: Capital assets; CAPM; Collaboration; Economic crisis; Economic models; Equilibrium; Interest rates; International finance; Investment policy; Investments; Mathematical models; Partial differential equations; Portfolio management; Pricing policies; United States > US

Thirty-five years later, Michael Hopewell and George Kaufman [1973] published a paper in theAmerican Economic Review showing the link between Macaulay's duration measure and a bond's price sensitivity to changes in interest rates--a measure now commonly used in controlling a portfolio'...