Capturing the value premium – global evidence from a fair value-based investment strategy
نویسندگان
چکیده
منابع مشابه
The expected value premium
Fama and French [2002. The equity premium. Journal of Finance 57, 637–659] estimate the equity premium using dividend growth rates to measure expected rates of capital gain. We apply their method to study the value premium. From 1945 to 2005, the expected value premium is on average 6.1% per annum, consisting of an expected dividend growth component of 4.4% and an expected dividend price ratio ...
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ژورنال
عنوان ژورنال: Journal of Banking & Finance
سال: 2018
ISSN: 0378-4266
DOI: 10.1016/j.jbankfin.2017.06.009