Do Cash Flows of Growth Stocks Really Grow Faster?
Contrary to conventional wisdom, growth stocks (i.e., low book‐to‐market stocks) do not have substantially higher future cash‐flow growth rates than value stocks, in both rebalanced and buy‐and‐hold portfolios. Efficiency growth, survivorship and look‐back biases, and the rebalancing effect help exp...
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| Autor*in: |
CHEN, HUAFENG (JASON) [verfasserIn] |
|---|
| Format: |
Artikel |
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| Sprache: |
Englisch |
| Erschienen: |
2017 |
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| Rechteinformationen: |
Nutzungsrecht: © 2017 the American Finance Association |
|---|
| Schlagwörter: |
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| Übergeordnetes Werk: |
Enthalten in: The journal of finance - Hoboken, NJ [u.a.] : Wiley, 1946, 72(2017), 5, Seite 2279-2330 |
|---|---|
| Übergeordnetes Werk: |
volume:72 ; year:2017 ; number:5 ; pages:2279-2330 |
| Links: |
|---|
| DOI / URN: |
10.1111/jofi.12518 |
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| 520 | |a Contrary to conventional wisdom, growth stocks (i.e., low book‐to‐market stocks) do not have substantially higher future cash‐flow growth rates than value stocks, in both rebalanced and buy‐and‐hold portfolios. Efficiency growth, survivorship and look‐back biases, and the rebalancing effect help explain the results. These findings suggest that duration alone is unlikely to explain the value premium. | ||
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10.1111/jofi.12518 doi PQ20171228 (DE-627)OLC1997236273 (DE-599)GBVOLC1997236273 (PRQ)p1358-e5167cc65462cad15776958ee7ec8d8970509a275e39d2177229c1babc8502c20 (KEY)0049639120170000072000502279docashflowsofgrowthstocksreallygrowfaster DE-627 ger DE-627 rakwb eng 330 DE-600 CHEN, HUAFENG (JASON) verfasserin aut Do Cash Flows of Growth Stocks Really Grow Faster? 2017 Text txt rdacontent ohne Hilfsmittel zu benutzen n rdamedia Band nc rdacarrier Contrary to conventional wisdom, growth stocks (i.e., low book‐to‐market stocks) do not have substantially higher future cash‐flow growth rates than value stocks, in both rebalanced and buy‐and‐hold portfolios. Efficiency growth, survivorship and look‐back biases, and the rebalancing effect help explain the results. These findings suggest that duration alone is unlikely to explain the value premium. Nutzungsrecht: © 2017 the American Finance Association Cash flow Growth stocks Stock prices Value stocks Enthalten in The journal of finance Hoboken, NJ [u.a.] : Wiley, 1946 72(2017), 5, Seite 2279-2330 (DE-627)12954552X (DE-600)218191-5 (DE-576)014995719 0022-1082 nnns volume:72 year:2017 number:5 pages:2279-2330 http://dx.doi.org/10.1111/jofi.12518 Volltext http://onlinelibrary.wiley.com/doi/10.1111/jofi.12518/abstract https://search.proquest.com/docview/1947142264 GBV_USEFLAG_A SYSFLAG_A GBV_OLC SSG-OLC-WIW GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_26 GBV_ILN_110 GBV_ILN_164 GBV_ILN_2008 GBV_ILN_2062 GBV_ILN_2206 GBV_ILN_4012 GBV_ILN_4125 GBV_ILN_4305 GBV_ILN_4311 AR 72 2017 5 2279-2330 |
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Contrary to conventional wisdom, growth stocks (i.e., low book‐to‐market stocks) do not have substantially higher future cash‐flow growth rates than value stocks, in both rebalanced and buy‐and‐hold portfolios. Efficiency growth, survivorship and look‐back biases, and the rebalancing effect help explain the results. These findings suggest that duration alone is unlikely to explain the value premium. |
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Contrary to conventional wisdom, growth stocks (i.e., low book‐to‐market stocks) do not have substantially higher future cash‐flow growth rates than value stocks, in both rebalanced and buy‐and‐hold portfolios. Efficiency growth, survivorship and look‐back biases, and the rebalancing effect help explain the results. These findings suggest that duration alone is unlikely to explain the value premium. |
| abstract_unstemmed |
Contrary to conventional wisdom, growth stocks (i.e., low book‐to‐market stocks) do not have substantially higher future cash‐flow growth rates than value stocks, in both rebalanced and buy‐and‐hold portfolios. Efficiency growth, survivorship and look‐back biases, and the rebalancing effect help explain the results. These findings suggest that duration alone is unlikely to explain the value premium. |
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| title_short |
Do Cash Flows of Growth Stocks Really Grow Faster? |
| url |
http://dx.doi.org/10.1111/jofi.12518 http://onlinelibrary.wiley.com/doi/10.1111/jofi.12518/abstract https://search.proquest.com/docview/1947142264 |
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| up_date |
2024-07-04T02:29:05.600Z |
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