المؤلفون: Lau, Hon-Shiang, Wingender, John R., Hing-Ling Lau, Amy

المصدر: Management Science; Sep89, Vol. 35 Issue 9, p1139-1142, 4p

مصطلحات موضوعية: FINANCE literature, STOCK exchanges, CONFIDENCE intervals, LOGNORMAL distribution, MANAGEMENT science, STATISTICS education, FINANCE education, RATE of return, STOCKS (Finance)

مستخلص: In recent years skewness has become a much-discussed factor in financial research, and many studies/models involve the skewness of various financial variables. This paper (i) points out the universal neglect in the finance literature of skewness' sampling error and its significant consequences; (ii) presents a simple approach for roughly constructing a confidence interval for skewness estimated from lognormal populations; (iii) points out directions of further research for developing a comprehensive approach for estimating skewness reliably. [ABSTRACT FROM AUTHOR]

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