Rationalizing the value premium in emerging markets
نویسندگان
چکیده
منابع مشابه
Rationalizing the Value Premium under Economic Fundamentals and Political Patronage
This paper studies the value anomaly in the context of Malaysia, an emerging economy with a top heavy, closely held, and state-owned institutional setting. We attribute the anomaly to the investment pattern of growth firms. Our empirical analysis illustrates that growth firms have a tendency to hoard cash, delaying the undertaking of their growth options, especially in poor economic environment...
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ژورنال
عنوان ژورنال: Journal of International Financial Markets, Institutions and Money
سال: 2014
ISSN: 1042-4431
DOI: 10.1016/j.intfin.2013.11.005