Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5084302 | International Review of Economics & Finance | 2008 | 10 Pages |
Abstract
A substantial variation in the Canadian E/P ratio can be explained by a combination of the lagged level of the E/P along with variability in logical explanatory factors. Moreover E/P ratios have a predictable component, both in the short-term and longer-term. On the other hand, short-term stock market returns are unpredictable. But, consistent with U.S. evidence, longer-term returns are predictable, especially when one conditions on the dividend yield.
Keywords
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Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Richard Deaves, Peter Miu, C. Barry White,