THE PERFORMANCE OF VALUE AND GROWTH PORTFOLIOS IN AUSTRALIA: IMPLICATIONS FOR ASSET MANAGEMENT

被引：0
|
作者：
Glabadanidis, Paskalis [1 ]
机构：
[1] Univ Adelaide, Sch Business, Adelaide, SA 5005, Australia
来源：
JASSA-THE FINSIA JOURNAL OF APPLIED FINANCE | 2010年 / 03期
关键词：
value premium; earnings yield; cash earnings yield; zero-beta factor; asset management; COMMON-STOCKS; MARKET VALUE; ANOMALIES; YIELDS; RETURN;
D O I：
暂无
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Using three financial ratios as value and growth determinants, this study indicates that the value premium in the Australian stock market is highly significant, both statistically and economically, especially between 1991 and 2007 New evidence is also provided, which suggests that the value premium is driven by positive loadings of value portfolios and negative loadings of growth portfolios on a zero-beta factor portfolio
引用
收藏
页码：12 / 17
页数：6
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