Forecasting profitability and earnings: a study of the UK market (1982-2000)

被引：12
|
作者：
Allen, DE [1 ]
Salim, HM [1 ]
机构：
[1] Edith Cowan Univ, Sch Finance & Business Econ, Joondalup, WA 6027, Australia
来源：
APPLIED ECONOMICS | 2005年 / 37卷 / 17期
关键词：
D O I：
10.1080/00036840500244634
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
An approach recently developed by Fama and French (2000) is applied to the study of whether UK company profitability is mean-reverting. A sample of roughly 987 firms per year for a period from 1982-2000 is used, drawn from Datastream. In a simple partial adjustment model convergence towards the mean at a rate of about 25% per year is found. The results are very similar in direction to those of Fama and French (2000) but the results do not display significant non-linearities. The change in profitability appears to be more strongly influenced by dividends in the UK.
引用
收藏
页码：2009 / 2018
页数：10
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