The Myth of Long-Horizon Predictability
收藏NBER2005-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w11841
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资源简介：
The prevailing view in finance is that the evidence for long-horizon stock return predictability is significantly stronger than that for short horizons. We show that for persistent regressors, a characteristic of most of the predictive variables used in the literature, the estimators are almost
提供机构：
美国国家经济研究局
创建时间：
2005-12-01
