文章基本信息

标题：Accounting and Stock Market Performance in the US: Evidence from Joiners and Leavers
本地全文：下载
作者：Christos Floros ; Efthalia Tabouratzi ; Dimitris Charamis 等
期刊名称：Theoretical Economics Letters
印刷版ISSN：2162-2078
电子版ISSN：2162-2086
出版年度：2017
卷号：07
期号：04
页码：696-708
DOI：10.4236/tel.2017.74050
语种：English
出版社：Scientific Research Publishing
摘要：We consider recent data from three major US indices (S & P500, NASDAQ 100, and DJIA) to examine the effect of joiners and leavers on stock market returns and volatility. We report (a) a positive effect of leavers on stock market returns (S & P500, DJIA), (b) a positive effect of leavers on stock market volatility (S & P500), and (c) a negative effect of joiners on DJIA stock market returns and volatility. No effects reported for NASDAQ100. We compare these results with the profitability, P/E and Price to Book index ratios. These findings are recommended to financial managers and investors dealing with US stock indices.
关键词：Stock Market Returns;Volatility;Index Ratios;US;Joiners;Leavers;GARCH