Buy this book
![Loading indicator](/images/ajax-loader-bar.gif)
"The cash flows of growth stocks are particularly sensitive to temporary movements in aggregate stock prices (driven by movements in the equity risk premium), while the cash flows of value stocks are particularly sensitive to permanent movements in aggregate stock prices (driven by market-wide shocks to cash flows.) Thus the high betas of growth stocks with the market's discount-rate shocks, and of value stocks with the market's cash-flow shocks, are determined by the cash-flow fundamentals of growth and value companies. Growth stocks are not merely "glamour stocks" whose systematic risks are purely driven by investor sentiment. More generally, accounting measures of firm-level risk have predictive power for firms' betas with market-wide cash flows, and this predictive power arises from the behavior of firms' cash flows. The systematic risks of stocks with similar accounting characteristics are primarily driven by the systematic risks of their fundamentals"--National Bureau of Economic Research web site.
Buy this book
![Loading indicator](/images/ajax-loader-bar.gif)
Subjects
Stocks, Prices, Econometric models, RiskEdition | Availability |
---|---|
1
Growth or glamour?: fundamentals and systematic risk in stock returns
2005, National Bureau of Economic Research
in English
|
zzzz
Libraries near you:
WorldCat
|
2
Growth or glamour?: fundamentals and systematic risk in stock returns
2005, National Bureau of Economic Research
Electronic resource
in English
|
aaaa
|
Book Details
Edition Notes
Includes bibliographical references.
Title from PDF file as viewed on 6/21/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
Classifications
The Physical Object
ID Numbers
Community Reviews (0)
Feedback?History
- Created April 1, 2008
- 5 revisions
Wikipedia citation
×CloseCopy and paste this code into your Wikipedia page. Need help?
December 13, 2020 | Edited by MARC Bot | import existing book |
July 29, 2012 | Edited by VacuumBot | Updated format '[electronic resource]' to 'Electronic resource' |
December 12, 2009 | Edited by WorkBot | link works |
October 31, 2008 | Edited by ImportBot | add URIs from original MARC record |
April 1, 2008 | Created by an anonymous user | Imported from Scriblio MARC record |