Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/105704 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
School of Economics Discussion Papers No. 1320
Verlag: 
University of Kent, School of Economics, Canterbury
Zusammenfassung: 
This paper attempts to assemble evidence for the relationship between the product and the financial market. Drawing back on work in industrial organization, we analyze the relationship between profit persistence and expected stock returns. We show that long-run profit persistence together with other additional economic firm fundamentals have a significant impact on stock returns and on their volatility even after adjusting for risk. At the same time we bring evidence for a 'low volatility anomaly'.
Schlagwörter: 
Profit Persistence
Competition
Stock Return
Heteroscedasticity
Low-Volatility Anomaly
Dividend Discount Model
JEL: 
L10
G11
L25
Dokumentart: 
Working Paper

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