The relationship between stock price, book value and residual income:   A panel error correction approach

The relationship between stock price, book value and residual income:   A panel error correction approach

In this paper we examine the short and long-term relations between stock price, book value and residual income.  We employ a panel error correction model, estimated with Engle & Granger’s (1987) two-step procedure and the single equation methodology. The models are estimated with FE-OLS and...

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Bibliographic Details
Main Authors: Brandt, Oskar, Persson, Rickard
Format: Others
Language:English
Published: Uppsala universitet, Statistiska institutionen 2015
Subjects:
Accounting based valuation
stock valuation
residual income
Ohlson’s model
PECM
Cointegration
Panel unit root
Stock price
book value
dividends
dividend discount model
aktier
utdelningar
residual inkomst
aktie värderingar
Ohlson's model
Online Access:http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-254344

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http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-254344

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