کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
973213 932773 2011 25 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Asset growth and stock returns: Evidence from Asian financial markets
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Asset growth and stock returns: Evidence from Asian financial markets
چکیده انگلیسی

This study examines the effect of corporate asset growth on stock returns using data on nine equity markets in Asia. For the period from 1981 to 2007, we find a pervasive negative relation between asset growth and subsequent stock returns. Such relation is weaker in markets where firms' asset growth rates are more homogeneous and persistent and in markets where firms rely more on bank financing for growth. On the other hand, corporate governance, investor protection, and legal origin do not influence the magnitude of the asset growth effect in Asian markets.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Pacific-Basin Finance Journal - Volume 19, Issue 1, January 2011, Pages 115–139
نویسندگان
, , , ,