RIM-Based Value Premium and Factor Pricing Using Value-Price Divergence
收藏NBER2023-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w30967
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资源简介：
We document that value-to-price, the ratio of Residual-Income-Model-based valuation to market price, subsumes the power of book-to-market ratio and many other value or quality measures in predicting stock returns. Long-short value-to-price portfolios hedge against momentum, revitalize the seemingly
提供机构：
美国国家经济研究局
创建时间：
2023-02-01
