| Tekijä: | Ferson, W. Harvey, C. |
| Otsikko: | Fundamental determinants of national equity market returns: a perspective on conditional asset pricing |
| Lehti: | Journal of Banking and Finance
1997 : DEC, VOL. 21:11, 12. p. 1625-1666 |
| Asiasana: | FINANCE BANKING ASSETS |
| Kieli: | eng |
| Tiivistelmä: | This paper provides a global asset pricing perspective on the debate over the relation between predetermined attributes of common stocks, such as ratios of price-to-book-value, cash-flow, earnings, and other variables to the future returns. Some argue that such variables may be used to find securities that are systematically undervalued by the market, while others argue that the measures are proxies for exposure to underlying economic factors. |
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