What Drives Booms and Busts in Value?
收藏NBER2023-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w31859
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资源简介：
Value investing delivers volatile returns, with large drawdowns during both market booms and busts. This paper interprets these returns through an intertemporal CAPM, which predicts that aggregate cash flow, discount rate, and volatility news all move value returns. We document that indeed these
提供机构：
美国国家经济研究局
创建时间：
2023-11-01
