PREDICTING RETURNS WITH FINANCIAL RATIOS

Please use this identifier to cite or link to this item: http://dspace.mediu.edu.my:8181/xmlui/handle/1721.1/1805

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DC Field	Value	Language
dc.creator	Lewellen, Jonathan	-
dc.date	2003-01-27T19:35:55Z	-
dc.date	2003-01-27T19:35:55Z	-
dc.date	2003-01-27T19:35:55Z	-
dc.date.accessioned	2013-05-31T20:08:53Z	-
dc.date.available	2013-05-31T20:08:53Z	-
dc.date.issued	2013-06-01	-
dc.identifier	http://hdl.handle.net/1721.1/1805	-
dc.identifier.uri	http://koha.mediu.edu.my:8181/jspui/handle/1721	-
dc.description	This article provides a new test of the predictive ability of aggregate financial ratios. Predictive regressions are subject to small-sample biases, but the correction in previous studies can substantially understate forecasting power. Dividend yield predicts aggregate market returns from 1946 – 2000, as well as in various subperiods. Book-to-market and the earnings-price ratio predict returns during the shorter 1963 – 2000 sample. The evidence remains strong despite the unusual price run-up in recent years	-
dc.format	375275 bytes	-
dc.format	application/pdf	-
dc.language	en_US	-
dc.relation	MIT Sloan School of Management Working Paper;4374-02	-
dc.subject	Predictive Regressions	-
dc.subject	Expected Returns	-
dc.subject	Small-sample Bias	-
dc.title	PREDICTING RETURNS WITH FINANCIAL RATIOS	-
dc.type	Working Paper	-
Appears in Collections:	MIT Items

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