haku: @indexterm RATE OF RETURN / yhteensä: 621
viite: 83 / 621
| Tekijä: | Brown, S. Goetzmann, W. Ross, S. |
| Otsikko: | Survival |
| Lehti: | Journal of Finance
1995 : JUL, VOL. 50:3, p. 853-874 |
| Asiasana: | RATE OF RETURN FINANCE STOCK RETURNS |
| Kieli: | eng |
| Tiivistelmä: | Empirical analysis of rates of return in finance implicitly condition on the security surviving into the sample. The authors investigate the implications of such conditioning on the time series of rates of return. In general this conditioning induces a spurious relationship between observed return and total risk for those securities that survive to be included in the sample. This result has immediate implications for the equity premium puzzle. |
SCIMA