Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/27900
Title: Accounting valuation and cross-sectional stock returns in China
Authors: Lee, WJ
Zhang, Y
Issue Date: 2014
Source: China accounting and finance review (中國會計與財務硏究), 2014, v. 16, no. 2, p. 155-170 How to cite?
Journal: China accounting and finance review (中國會計與財務硏究) 
Abstract: Using accounting-based valuations, Frankel and Lee (1998) document a positive association between fundamental value-to-price ratio (V/P) and abnormal stock returns in subsequent periods. They attribute the V/P effect to the market’s gradual adjustment of stock prices towards a fundamental value, and this is regarded as counter-evidence for market efficiency (i.e. mispricing). This synopsis aims to examine whether the V/P effect also holds for Chinese companies.
URI: http://hdl.handle.net/10397/27900
ISSN: 1029-807X
EISSN: 2307-3055
DOI: 10.7603/s40570-014-0012-4
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