| Author: | Kellow, A. |
| Title: | Decomposition of stock returns |
| Journal: | Journal of Business Finance and Accounting
1990 : AUTUMN, VOL. 17:4, p. 481-495 |
| Index terms: | MARKETS VALUATION MODELS MULTINATIONAL COMPANIES STOCK MARKETS RATE OF RETURN |
| Language: | eng |
| Abstract: | A market valuation model of the subsidiaries of multinationals is developed and empirically tested. The model disaggregates the shares of stock of these firms into those of their subsidiaries and, by extension, infers the relative returns of the regions of investment location. The essential feature of the model is its capability to disaggregate returns into their respective components. Provided the requisite data are available the model has the potential to disaggregate company returns into those of the industry or the product group components. |
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