The Library
Are two factors enough? The UK evidence
Tools
UNSPECIFIED (2001) Are two factors enough? The UK evidence. FINANCIAL ANALYSTS JOURNAL, 57 (6). 96-+. ISSN 0015-198X.
Research output not available from this repository.
Request-a-Copy directly from author or use local Library Get it For Me service.
Abstract
Some studies in the 1990s documented that book value of equity to market value of equity (BV/MV) and the market value of equity (MVE) capture the cross-sectional variation of stock returns in the U.S. market in the 1963-90 period. Other researchers argued, however, that two other variables-the sales-to-price ratio (SIP) and the debt-to-equity ratio (DIE)-have more explanatory power for stock returns than BV/MV and MVE. The evidence in this article,from London Stock Exchange data, indicates that SIP and DIE do not entirely absorb the roles of BV/MV and MVE in explaining the cross-section of average stock returns in the U.K. market. We did find that SIP has significant explanatory power beyond the contribution of BV/MV and MVE, but the explanatory power of DIE is captured by SIP.
Item Type: | Journal Article | ||||
---|---|---|---|---|---|
Subjects: | H Social Sciences > HG Finance | ||||
Journal or Publication Title: | FINANCIAL ANALYSTS JOURNAL | ||||
Publisher: | ASSOC INVESTMENT MANAGEMENT RESEARCH (A I M R) | ||||
ISSN: | 0015-198X | ||||
Official Date: | November 2001 | ||||
Dates: |
|
||||
Volume: | 57 | ||||
Number: | 6 | ||||
Number of Pages: | 11 | ||||
Page Range: | 96-+ | ||||
Publication Status: | Published |
Data sourced from Thomson Reuters' Web of Knowledge
Request changes or add full text files to a record
Repository staff actions (login required)
View Item |