Stock Valuation and Learning about Profitability
收藏NBER2002-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w8991
下载链接
链接失效反馈官方服务：
资源简介：
We develop a simple approach to valuing stocks in the presence of learning about average profitability. The market-to-book ratio (M/B) increases with uncertainty about average profitability, especially for firms that pay no dividends. M/B is predicted to decline over a firm's lifetime due to
提供机构：
美国国家经济研究局
创建时间：
2002-06-01
