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|Title:||Market values, earnings' yields and stock returns. Evidence from Singapore||Authors:||Wong, K.A.
|Issue Date:||1990||Citation:||Wong, K.A.,Lye, M.S. (1990). Market values, earnings' yields and stock returns. Evidence from Singapore. Journal of Banking and Finance 14 (2-3) : 311-326. ScholarBank@NUS Repository.||Abstract:||Results of U.S. studies about the relation between stock returns and the effects of firm size and earnings to price ratio (E/P) are not consistent. Basu (1983) argues that E/P dominates size, while others conclude that size dominates E/P. This paper attempts to provide evidence on these two effects with a sample of data, 1975-1985 from the Stock Exchange of Singapore. We find that stock returns are significantly related to both size and E/P. But, the size effect appears to be of secondary importance when compared with E/P effect. © 1990.||Source Title:||Journal of Banking and Finance||URI:||http://scholarbank.nus.edu.sg/handle/10635/45210||ISSN:||03784266|
|Appears in Collections:||Staff Publications|
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