Value versus Growth: Movements in Economic Fundamentals

摘要：

We study the cyclical behavior of economic fundamentals for value and growth rms. Our goal is to evaluate the empirical relevance of recent rational theories of the value premium. We nd that the fundamentals of value rms are more adversely aected by negative business cycle shocks than those of growth rms. And the dierential response is mostly signicant. We also examine the potential sources of the cyclical movements.

作者: Yuhang Xing Lu Zhangy

作者单位: Jesse H. Jones Graduate School of Management, Rice University, Houston TX 77005 William E. Simon Graduate School of Business Administration, University of Rochester, Rochester NY 1

会议类型: 国际会议

会议名称: 2005年中国国际金融年会

会议地点: 昆明

会议语种:英文

在线出版日期: 2005-07-05（万方平台首次上网日期，不代表论文的发表时间）