Growth Or Glamour?

Growth Or Glamour?
Author :
Publisher :
Total Pages : 66
Release :
ISBN-10 : IND:30000095359687
ISBN-13 :
Rating : 4/5 ( Downloads)

Book Synopsis Growth Or Glamour? by : John Y. Campbell

Download or read book Growth Or Glamour? written by John Y. Campbell and published by . This book was released on 2005 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The cash flows of growth stocks are particularly sensitive to temporary movements in aggregate stock prices (driven by movements in the equity risk premium), while the cash flows of value stocks are particularly sensitive to permanent movements in aggregate stock prices (driven by market-wide shocks to cash flows.) Thus the high betas of growth stocks with the market's discount-rate shocks, and of value stocks with the market's cash-flow shocks, are determined by the cash-flow fundamentals of growth and value companies. Growth stocks are not merely "glamour stocks" whose systematic risks are purely driven by investor sentiment. More generally, accounting measures of firm-level risk have predictive power for firms' betas with market-wide cash flows, and this predictive power arises from the behavior of firms' cash flows. The systematic risks of stocks with similar accounting characteristics are primarily driven by the systematic risks of their fundamentals.


Growth Or Glamour? Related Books

Growth Or Glamour?
Language: en
Pages: 66
Authors: John Y. Campbell
Categories: Stocks
Type: BOOK - Published: 2005 - Publisher:

DOWNLOAD EBOOK

The cash flows of growth stocks are particularly sensitive to temporary movements in aggregate stock prices (driven by movements in the equity risk premium), wh
Growth or Glamour? Fundamentals and Systematic Risk in Stock Returns
Language: en
Pages: 49
Authors: John Y. Campbell
Categories:
Type: BOOK - Published: 2010 - Publisher:

DOWNLOAD EBOOK

The cash flows of growth stocks are particularly sensitive to temporary movements in aggregate stock prices (driven by movements in the equity risk premium), wh
Advances in Behavioral Finance, Volume II
Language: en
Pages: 744
Authors: Richard H. Thaler
Categories: Business & Economics
Type: BOOK - Published: 2005-07-05 - Publisher: Princeton University Press

DOWNLOAD EBOOK

This book offers a definitive and wide-ranging overview of developments in behavioral finance over the past ten years. In 1993, the first volume provided the st
The Power of Glamour
Language: en
Pages: 288
Authors: Virginia Postrel
Categories: Business & Economics
Type: BOOK - Published: 2013-11-05 - Publisher: Simon and Schuster

DOWNLOAD EBOOK

An exploration of glamour, a potent cultural force that influences where people choose to live, which careers to pursue, where to invest, and how to vote, offer
Glamour Brands and Glamour Stocks
Language: en
Pages: 45
Authors: Matthew T. Billett
Categories:
Type: BOOK - Published: 2014 - Publisher:

DOWNLOAD EBOOK

We explore the influence of customer perceptions from the product market on firms' return characteristics in the stock market. Using a unique dataset containing