Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5069400 | Finance Research Letters | 2014 | 18 Pages |
Abstract
This paper finds that the European leading economic indicator, a prime business cycle indicator for the European economies published by the OECD, can strongly predict European stock returns and generate utility gains. Importantly, the predictive power of the European indicator is above and beyond that contained in the country-specific leading indicator. Furthermore, we find that the predictive power of the European indicator is stable.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Yanjian Zhu, Xiaoneng Zhu,