A Note on "Predicting Returns with Financial Ratios"
A Note on "Predicting Returns with Financial Ratios"
Author(s):
Year: 2003
Paper Number:
GBS-FIN-2003-002
Goizueta Department:
Finance
Full text available as: |
Abstract
This note reinterprets methods that seek to use the aggregate dividend price ratio to predict aggregate stock market returns; specifically, methods which use information about time-varying changes in the dividend-price ratio process to improve the prediction equation. It argues that the empirical evidence is still too weak to suggest practical usefulness of these estimators.
| Subjects: | Business > Finance |
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| Notes: | Contact: Amit Goyal, amit_goyal@bus.emory.edu, 404-727-4825 |
| Deposited On: | 16 May 2005 |
| Alternative Locations: | http://papers.ssrn.com/sol3/papers.cfm?abstract_id=486265 |
