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Valuation ratios and price deviations from fundamentals

✍ Scribed by Jerry Coakley; Ana-Maria Fuertes

Book ID
116614720
Publisher
Elsevier Science
Year
2006
Tongue
English
Weight
470 KB
Volume
30
Category
Article
ISSN
0378-4266

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Valuation ratios and long-horizon stock
Valuation ratios and long-horizon stock price predictability
✍ David E. Rapach; Mark E. Wohar πŸ“‚ Article πŸ“… 2005 πŸ› John Wiley and Sons 🌐 English βš– 188 KB

## Abstract Using annual data for 1872–1997, this paper re‐examines the predictability of real stock prices based on price–dividend and price–earnings ratios. In line with the extant literature, we find significant evidence of increased long‐horizon predictability; that is, the hypothesis that the