Forecasting profitability and earnings: a study of the UK market (1982-2000)

被引：12

作者：

Allen, DE ^{[1
]}

Salim, HM ^{[1
]}

机构：

[1] Edith Cowan Univ, Sch Finance & Business Econ, Joondalup, WA 6027, Australia

来源：

APPLIED ECONOMICS | 2005年 / 37卷 / 17期

关键词：

D O I：

10.1080/00036840500244634

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

An approach recently developed by Fama and French (2000) is applied to the study of whether UK company profitability is mean-reverting. A sample of roughly 987 firms per year for a period from 1982-2000 is used, drawn from Datastream. In a simple partial adjustment model convergence towards the mean at a rate of about 25% per year is found. The results are very similar in direction to those of Fama and French (2000) but the results do not display significant non-linearities. The change in profitability appears to be more strongly influenced by dividends in the UK.

引用

页码：2009 / 2018

页数：10

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