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BestsellerE-book
Author Schiessl, Christian, author.

Title Value stocks beat growth stocks : an empirical analysis for the German stock market / Schiessl, Christian.

Publication Info. Hamburg, Germany : Anchor Academic Publishing, 2014.
©2014

Item Status

Description 1 online resource (72 pages) : illustrations, tables
Physical Medium polychrome
Description text file
Bibliography Includes bibliographical references.
Contents Value Stocks beat Growth Stocks; Table of contents; List of tables; List of figures; List of abbreviations; List of symbols; 1. Introduction; 1.1 Motivation; 1.2. Structure and objective; 2. Conceptual definition; 2.1. Value investing; 2.2. Growth investing; 2.3. Links between Value and Growth investing; 3. Asset pricing theories; 3.1. Capital Asset Pricing Model; 3.1.1. Risk-free interest rate; 3.1.2. Market risk-premium; 3.1.3. Beta factor; 3.1.4. Criticism and extensions; 3.2. Fama and French three factor model; 3.3. Explanation approaches for the value premium
3.4. Carhart four factor model4. Determinants of expected stock returns; 4.1. Price-to-book; 4.2. Price-to-earnings; 4.3. Dividend yield; 4.4. Size; 4.5. Momentum; 4.6. Further determinants; 5. Empirical studies for the German stock market; 6. Own empirical analysis; 6.1. Data and methodology; 6.2. Descriptive statistics; 6.3. Seasonality; 6.4. Univariate and multivariate regressions; 7. Conclusion; Reference list
Summary Based on a 'free of survivorship-bias' sample of German stocks listed at the Frankfurt stock exchange, the study investigates the ability of hedge portfolio formation structures, built of three value premium proxies (P/B, P/E, and DY), the size factor, and the technical momentum factor, to generate excess returns in the period 1992 to 2011. First, the author characterizes and defines the significant terms that are in connection with value and growth investing. He continues with the discussion of asset pricing with the CAPM, the Fama and French three-factor model, and the Carhart extension,
Local Note eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America
Subject Stocks -- History.
Stocks.
History.
Stocks -- Rate of return.
Stocks -- Rate of return.
Genre/Form Electronic books.
Electronic books.
History.
Other Form: Print version: Schiessl, Christian. Value stocks beat growth stocks : an empirical analysis for the German stock market. Hamburg, Germany : Anchor Academic Publishing, ©2014 vii, 61 pages 9783954890699
ISBN 9783954895694 (electronic book)
3954895692 (electronic book)
9783954890699