The use of error components models in business finance. A review article and an application
Part of : Σπουδαί : journal of economics and business ; Vol.43, No.2, 1993, pages 95-110
Issue:
Pages:
95-110
Abstract:
This study applies and tests several stock valuation models of companies whose shares are traded in the Athens Stock Exchange. The relevant equations are estimated for the five major sectors of the Athens Stock Exchange (Banks, Textiles, Foods, Buildings, Commercials) using a specification which combines cross sectional and time series data. This is the Error Components Model. In view of the results obtained the most important variables across sectors appear to be dividends followed by retained earnings. The contribution of the remainder of the independent variables has been mixed.
Subject (LC):
Keywords:
econometrics
Notes:
Περιέχει παράρτημα πινάκων, υποσημειώσεις και βιβλιογραφία
