What Drives Firm-Level Stock Returns?
收藏NBER2001-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w8240
下载链接
链接失效反馈官方服务：
资源简介：
I use a vector autoregressive model (VAR) to decompose an individual firm's stock return into two components: changes in cash-flow expectations (i.e., cash-flow news) and changes in discount rates (i.e., expected-return news). The VAR yields three main results. First, firm-level stock returns are
提供机构：
美国国家经济研究局
创建时间：
2001-04-01
