0410323 20240103182206.020060210235959.9 9 s. cav_un_epca*02970720572-304382 (2000)79-87 cav_un_auth*0101230 Vošvrda Miloslav UTIA-B Department of Econometrics Ústav teorie informace a automatizace AV ČR, v. v. i. 12B 05D GA402/97/0007 GA ČR cav_un_auth*0009130 GA402/97/0770 GA ČR cav_un_auth*0009139 AV0Z1075907 One of the central tenets of modern financial economics is the necessity of some trade-off between a risk and an expected return. It is generally known the price of interest-bearing securities such as bonds rises when rates fall, and vice versa. If a security's expected price change is positive, it is needed a reward to attract investors to hold the asset and bear the corresponding risks. BB E http://hdl.handle.net/11104/0130414 UTIA-B 20000039 2000 cav_un_epca*0297072 Acta Oeconomica Pragensia 0572-3043 Roč. 8 č. 2 2000 79 87