This paper studies the role of ‡uctuations in the aggregate price-earning ratio at di¤erent time scales for predicting stock returns and explore the channels through which returns are predicted. Using U.S. quarterly and international monthly data, we …nd that cycles in the price-earning ratio are strong and better predictors of future returns at short and intermediate horizons than the aggregat...

Characterizing the outcomes related to the phenotype of exceptional cognitive abilities has been feasible in recent years due to the availability of large samples of intellectually precocious adolescents identified by modern talent searches that have been followed-up longitudinally over multiple decades. The level and pattern of cognitive abilities, even among participants within the top 1% of ...

This paper studies the quantitative importance of precautionary wealth accumulation relative to life—cycle saving for retirement. Section 1 examines panel data on earnings from the PSID. Using a bivariate normal model of random effects, we find that second— period—of—life earnings are strongly positively correlated with initial earnings but have a higher variance. Section 2 studies the conseque...

Earning limits are an interesting novel aspect in the classic Fisher market model. Here sellers have bounds on their income and can decide to lower the supply they bring to the market if income exceeds the limit. Beyond several applications, in which earning limits are natural, equilibria of such markets are a central concept in the allocation of indivisible items to maximize Nash social welfar...

BACKGROUND Reference values of all the 21 psychosocial scales or dimensions (73 items) of the psychosocial risk assessment questionnaire COPSOQ ISTAS21 are computed from a representative sample of the wage earning population in Spain. METHODS Representative sample of the Spanish wage-earning population, n=7,612. The sampling was multi-stage by conglomerates. The information was obtained by th...

Tujuan dari penelitian ini ialah guna mengetahui tingkat suku bunga untuk memoderasi pengaruh current ratio dan debt to equity terhadap price earning ratio. populasi terdiri 49 perusahaan sampel sebanyak 8 pada sektor property, real estate konstruksi bangunan yang terdaftar di Bursa Efek Indonesia tahun 2018 sampai dengan 2021, dipilih melalui metode purposive sampling. Data dianalisis mengguna...

this paper examines the accuracy of valuation models in providing reasonable estimation of the market values of listed companies in tehran stock exchange (tse). six valuation models including gordon growth model, two stage dividend discount model, adjusted present value, price to earning ratio and residual income were examined in this study. in addition, three proxies represent the market value...