search query: @author Veld, C. / total: 5
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| Author: | Brouwier, I. Put, J. van der Veld, C. |
| Title: | Contrarian investment strategies in a European context |
| Journal: | Journal of Business Finance and Accounting
1997 : OCT-DEC, VOL. 24:9-10, p. 1353-1366 |
| Index terms: | INVESTMENTS VALUATION STRATEGY STOCK MARKETS |
| Language: | eng |
| Abstract: | This article studies value strategies for European countries. An outperformance was found for all value variables investigated: the earnings-to-price (E/P) ratio, the cash-flow-to-price (CF/P) ratio, the book-to-market (B/M) ratio and the dividend yield. Outperformance is especially remarkable for the CF/P ratio which amounts to 20.8% between the top and bottom quintiles in a univariate model. In a regression analysis, it was found a difference of 11.8% for the CF/P ratio. This result cannot be explained by risk differences alone. |
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