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| Author: | Risager, O. |
| Title: | A price-earnings index for the Danish stock market |
| Journal: | Scandinavian economic history review
2006 : VOL. 54:2, p. 137-160 |
| Index terms: | price earnings ratios interest rates bubbles Denmark |
| Language: | eng |
| Abstract: | The objective of this article is to present price-earnings series for the last 35 years for the Danish stock market. Findings show that over the period 1969 to 2003 the average P/E equals 13.5. In 1980 the P/E reaches its lowest level. Key factors explaining the depressed valuation ratio were a hike in the oil price, high wage increases and interest rates approaching 20 per cent. |
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