Relations Between Stock Returns and Fundamental Variables: Evidence from a Segmented Market
dc.contributor.author | Dhatt, Manjeet S. | en_US |
dc.contributor.author | Kim, Yong H. | en_US |
dc.contributor.author | Mukherji, Sandip | en_US |
dc.date.accessioned | 2006-09-08T20:40:37Z | |
dc.date.available | 2006-09-08T20:40:37Z | |
dc.date.issued | 1999-09 | en_US |
dc.identifier.citation | Dhatt, Manjeet S.; Kim, Yong H.; Mukherji, Sandip; (1999). "Relations Between Stock Returns and Fundamental Variables: Evidence from a Segmented Market." Asia-Pacific Financial Markets 6(3): 221-233. <http://hdl.handle.net/2027.42/42746> | en_US |
dc.identifier.issn | 1387-2834 | en_US |
dc.identifier.issn | 1573-6946 | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/42746 | |
dc.description.abstract | This study examines relations between stock returns and potential explanatory factors in Korea, an important and segmented emerging market. Our results show that Korean stock returns in general and returns on stocks listed in Section 1 in particular are significantly positively related to book-to-market, sales-price, and debt-equity ratios, but not significantly related to market value of equity. Returns on stocks listed in Section 2 are, however, negatively related to market value of equity and not significantly related to the other three variables. Among the variables investigated by us, book-to-market ratio has the greatest explanatory power for stock returns and it indicates superior returns for value stocks. Our findings strengthen the international evidence of the role of book-to-market ratio in explaining stock returns by demonstrating its significance even in the segmented Korean market. | en_US |
dc.format.extent | 57645 bytes | |
dc.format.extent | 3115 bytes | |
dc.format.mimetype | application/pdf | |
dc.format.mimetype | text/plain | |
dc.language.iso | en_US | |
dc.publisher | Kluwer Academic Publishers; Springer Science+Business Media | en_US |
dc.subject.other | Economics / Management Science | en_US |
dc.subject.other | Econometrics | en_US |
dc.subject.other | Economic Theory | en_US |
dc.subject.other | International Economics | en_US |
dc.subject.other | Finance /Banking | en_US |
dc.subject.other | Book-to-Market | en_US |
dc.subject.other | Explanatory Factors | en_US |
dc.subject.other | Korea | en_US |
dc.subject.other | Stock Returns | en_US |
dc.title | Relations Between Stock Returns and Fundamental Variables: Evidence from a Segmented Market | en_US |
dc.type | Article | en_US |
dc.subject.hlbsecondlevel | Economics | en_US |
dc.subject.hlbtoplevel | Business | en_US |
dc.description.peerreviewed | Peer Reviewed | en_US |
dc.contributor.affiliationum | University of Michigan-Dearborn, U.S.A. | en_US |
dc.contributor.affiliationother | College of Business Administration, University of Cincinnati, Cincinnati, OH, 45221, U.S.A. | en_US |
dc.contributor.affiliationother | Howard University, U.S.A. | en_US |
dc.contributor.affiliationumcampus | Dearborn | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/42746/1/10690_2004_Article_231288.pdf | en_US |
dc.identifier.doi | http://dx.doi.org/10.1023/A:1010071921399 | en_US |
dc.identifier.source | Asia-Pacific Financial Markets | en_US |
dc.owningcollname | Interdisciplinary and Peer-Reviewed |
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