Gschwandtner, Adelina and Hauser, M. (2013) Profit Persistence and Stock Returns: Discussion Paper No. 13/20. Discussion paper. School of Economics, University of Kent (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided) (KAR id:45746)
| The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. | |
| Official URL: https://www.kent.ac.uk/economics/research/papers/2... |
Abstract
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'.
| Item Type: | Reports and Papers (Discussion paper) |
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| Uncontrolled keywords: | Profit Persistence; Competition; Stock Return; Heteroscedasticity; Low-Volatility Anomaly; Dividend Discount Model |
| Subjects: | H Social Sciences > HG Finance |
| Divisions: | Divisions > Division of Human and Social Sciences > School of Economics |
| Depositing User: | Adelina Gschwandtner |
| Date Deposited: | 04 Dec 2014 09:36 UTC |
| Last Modified: | 05 Nov 2024 10:29 UTC |
| Resource URI: | https://kar.kent.ac.uk/id/eprint/45746 (The current URI for this page, for reference purposes) |
University of Kent Author Information
Gschwandtner, Adelina.
| Creator's ORCID: |
 https://orcid.org/0000-0002-6952-1782
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