메뉴 건너뛰기




Volumn 55, Issue 5, 1999, Pages 4-23

Valuing the Dow: A Bottom-Up Approach

Author keywords

[No Author keywords available]

Indexed keywords


EID: 0038405449     PISSN: 0015198X     EISSN: None     Source Type: Journal    
DOI: 10.2469/faj.v55.n5.2295     Document Type: Article
Times cited : (14)

References (38)
  • 3
    • 0031184823 scopus 로고    scopus 로고
    • The Effect of Disclosure Level on the Cost of Equity
    • Botosan, Christine. 1997. "The Effect of Disclosure Level on the Cost of Equity." Accounting Review, vol. 72, no. 3:323-350.
    • (1997) Accounting Review , vol.72 , Issue.3 , pp. 323-350
    • Botosan, C.1
  • 5
    • 0000007521 scopus 로고
    • The Dividend Price Ratio and Expectations of Future Dividends and Discount Factors
    • Campbell, John Y., and Robert J. Shiller. 1988. "The Dividend Price Ratio and Expectations of Future Dividends and Discount Factors." Review of Financial Studies, vol. 1, no. 3 (Fall):195-228.
    • (1988) Review of Financial Studies , vol.1 , Issue.3 FALL , pp. 195-228
    • Campbell, J.Y.1    Shiller, R.J.2
  • 8
    • 0002056097 scopus 로고
    • Dividend Yields and Expected Stock Returns
    • Fama, Eugene F., and Kenneth R. French. 1988a. "Dividend Yields and Expected Stock Returns." Journal of Financial Economics, vol. 22, no. 1:3-25.
    • (1988) Journal of Financial Economics , vol.22 , Issue.1 , pp. 3-25
    • Fama, E.F.1    French, K.R.2
  • 9
    • 84936823605 scopus 로고
    • Permanent and Temporary Components of Stock Prices
    • _. 1988b. "Permanent and Temporary Components of Stock Prices." Journal of Political Economy, vol. 96, no. 1:246-273.
    • (1988) Journal of Political Economy , vol.96 , Issue.1 , pp. 246-273
  • 10
    • 34250890715 scopus 로고
    • Business Conditions and Expected Returns on Stocks and Bonds
    • _. 1989. "Business Conditions and Expected Returns on Stocks and Bonds." Journal of Financial Economics, vol. 25, no. 1:23-50.
    • (1989) Journal of Financial Economics , vol.25 , Issue.1 , pp. 23-50
  • 11
    • 84977737676 scopus 로고
    • The Cross-Section of Expected Stock Returns
    • _. 1992. "The Cross-Section of Expected Stock Returns." Journal of Finance, vol. 47, no. 2 (June):427-465.
    • (1992) Journal of Finance , vol.47 , Issue.2 JUNE , pp. 427-465
  • 12
    • 0031066567 scopus 로고    scopus 로고
    • Industry Costs of Equity
    • _. 1997. "Industry Costs of Equity." Journal of Financial Economics, vol. 43, no. 2:153-193.
    • (1997) Journal of Financial Economics , vol.43 , Issue.2 , pp. 153-193
  • 13
    • 84984207803 scopus 로고
    • Valuation and Clean Surplus Accounting for Operating and Financial Activities
    • Feltham, Gerald A., and James A. Ohlson. 1995. "Valuation and Clean Surplus Accounting for Operating and Financial Activities." Contemporary Accounting Research, vol. 11, no. 2:689-731.
    • (1995) Contemporary Accounting Research , vol.11 , Issue.2 , pp. 689-731
    • Feltham, G.A.1    Ohlson, J.A.2
  • 15
    • 0001386234 scopus 로고    scopus 로고
    • Accounting Valuation, Market Expectation, and Cross-Sectional Stock Returns
    • _. 1998. "Accounting Valuation, Market Expectation, and Cross-Sectional Stock Returns." Journal of Accounting and Economics, vol. 25, no. 3:283-319.
    • (1998) Journal of Accounting and Economics , vol.25 , Issue.3 , pp. 283-319
  • 16
    • 0003410290 scopus 로고
    • Princeton, NJ: Princeton University Press
    • Hamilton, James T. 1994. Time Series Analysis. Princeton, NJ: Princeton University Press.
    • (1994) Time Series Analysis
    • Hamilton, J.T.1
  • 17
    • 0000414660 scopus 로고
    • Large Sample Properties of Generalized Method of Moments Estimators
    • Hansen, Lars P. 1982. "Large Sample Properties of Generalized Method of Moments Estimators." Econometrica, vol. 50, no. 4:1029-54.
    • (1982) Econometrica , vol.50 , Issue.4 , pp. 1029-1054
    • Hansen, L.P.1
  • 18
    • 0000714094 scopus 로고
    • Forward Exchange Rates as Optimal Predictors of Future Spot Rates: An Econometric Analysis
    • Hansen, Lars P., and Robert J. Hodrick. 1980. "Forward Exchange Rates as Optimal Predictors of Future Spot Rates: An Econometric Analysis." Journal of Political Economy, vol. 88, no. 5:829-853.
    • (1980) Journal of Political Economy , vol.88 , Issue.5 , pp. 829-853
    • Hansen, L.P.1    Hodrick, R.J.2
  • 19
    • 0000789996 scopus 로고
    • Dividend Yields and Expected Stock Returns: Alternative Procedures for Inference and Measurement
    • Hodrick, Robert J. 1992. "Dividend Yields and Expected Stock Returns: Alternative Procedures for Inference and Measurement." Review of Financial Studies, vol. 5, no. 3 (Fall):357-386.
    • (1992) Review of Financial Studies , vol.5 , Issue.3 FALL , pp. 357-386
    • Hodrick, R.J.1
  • 20
    • 84993891096 scopus 로고
    • The Valuation of Cash Flow Forecasts: An Empirical Analysis
    • Kaplan, Steve, and Richard Ruback. 1995. "The Valuation of Cash Flow Forecasts: An Empirical Analysis." Journal of Finance, vol. 50, no. 4 (September):1059-93.
    • (1995) Journal of Finance , vol.50 , Issue.4 SEPTEMBER , pp. 1059-1093
    • Kaplan, S.1    Ruback, R.2
  • 21
    • 0031138827 scopus 로고    scopus 로고
    • Book-to-Market, Dividend Yield, and Expected Market Returns: A Time-Series Analysis
    • Kothari, S.P., and Jay Shanken. 1997. "Book-to-Market, Dividend Yield, and Expected Market Returns: A Time-Series Analysis." Journal of Financial Economics, vol. 44, no. 2:169-203.
    • (1997) Journal of Financial Economics , vol.44 , Issue.2 , pp. 169-203
    • Kothari, S.P.1    Shanken, J.2
  • 22
    • 0038743548 scopus 로고    scopus 로고
    • Measuring Wealth
    • Lee, Charles M.C. 1996. "Measuring Wealth." CA Magazine, vol. 129, no. 1:32-37.
    • (1996) CA Magazine , vol.129 , Issue.1 , pp. 32-37
    • Lee, C.M.C.1
  • 23
    • 0347014448 scopus 로고    scopus 로고
    • Accounting-Based Valuation: A Commentary
    • Forthcoming
    • _. Forthcoming 1999. "Accounting-Based Valuation: A Commentary." Accounting Horizons.
    • (1999) Accounting Horizons
  • 24
    • 0001122260 scopus 로고    scopus 로고
    • What Is the Intrinsic Value of the Dow?
    • Lee, Charles M.C., James Myers, and Bhaskaran Swaminathan. 1999. "What Is the Intrinsic Value of the Dow?" Journal of Finance, vol. 54, no. 5 (October):1693-1741.
    • (1999) Journal of Finance , vol.54 , Issue.5 OCTOBER , pp. 1693-1741
    • Lee, C.M.C.1    Myers, J.2    Swaminathan, B.3
  • 25
    • 0010917863 scopus 로고
    • Tactical Asset Allocation: Pros and Cons
    • MacBeth, James D., and David C. Emanuel. 1993. "Tactical Asset Allocation: Pros and Cons." Financial Analysts Journal, vol. 49, no. 6 (November/December):30-43.
    • (1993) Financial Analysts Journal , vol.49 , Issue.6 NOVEMBER-DECEMBER , pp. 30-43
    • MacBeth, J.D.1    Emanuel, D.C.2
  • 27
    • 84993914996 scopus 로고
    • Predictable Stock Returns: The Role of Small Sample Bias
    • Nelson, Charles R., and Myung J. Kim. 1993. "Predictable Stock Returns: The Role of Small Sample Bias." Journal of Finance, vol. 48, no. 2 (June):641-661.
    • (1993) Journal of Finance , vol.48 , Issue.2 JUNE , pp. 641-661
    • Nelson, C.R.1    Kim, M.J.2
  • 28
    • 0000706085 scopus 로고
    • A Simple, Positive Semi-Definite, Heteroskedasticity and Autocorrelation Consistent Covariance Matrix
    • Newey, Whitney K., and Kenneth D. West. 1987. "A Simple, Positive Semi-Definite, Heteroskedasticity and Autocorrelation Consistent Covariance Matrix." Econometrica, vol. 55, no. 3:703-708.
    • (1987) Econometrica , vol.55 , Issue.3 , pp. 703-708
    • Newey, W.K.1    West, K.D.2
  • 29
    • 84984268939 scopus 로고
    • A Synthesis of Security Valuation Theory and the Role of Dividends, Cash Flows, and Earnings
    • Ohlson, James A. 1990. "A Synthesis of Security Valuation Theory and the Role of Dividends, Cash Flows, and Earnings." Contemporary Accounting Research, vol. 6:648-676.
    • (1990) Contemporary Accounting Research , vol.6 , pp. 648-676
    • Ohlson, J.A.1
  • 30
    • 84984183910 scopus 로고
    • The Theory of Value and Earnings, and an Introduction to the Ball-Brown Analysis
    • _. 1991. "The Theory of Value and Earnings, and an Introduction to the Ball-Brown Analysis." Contemporary Accounting Research, vol. 7, no. 1:1-19.
    • (1991) Contemporary Accounting Research , vol.7 , Issue.1 , pp. 1-19
  • 31
    • 84984180909 scopus 로고
    • Earnings, Book Values, and Dividends in Security Valuation
    • _. 1995. "Earnings, Book Values, and Dividends in Security Valuation." Contemporary Accounting Research, vol. 11, no. 2:661-687.
    • (1995) Contemporary Accounting Research , vol.11 , Issue.2 , pp. 661-687
  • 32
    • 84978544729 scopus 로고
    • Some Formal Connections between Economic Values and Yields and Accounting Numbers
    • Peasnell, Ken. 1982. "Some Formal Connections between Economic Values and Yields and Accounting Numbers." Journal of Business Finance and Accounting, vol. 9, no. 3:361-381.
    • (1982) Journal of Business Finance and Accounting , vol.9 , Issue.3 , pp. 361-381
    • Peasnell, K.1
  • 33
    • 54649084824 scopus 로고    scopus 로고
    • A Synthesis of Equity Valuation Techniques and the Terminal Value Calculation for the DDM
    • Penman, Stephen H. 1997. "A Synthesis of Equity Valuation Techniques and the Terminal Value Calculation for the DDM." Review of Accounting Studies, vol. 2:303-323.
    • (1997) Review of Accounting Studies , vol.2 , pp. 303-323
    • Penman, S.H.1
  • 34
    • 0001243028 scopus 로고    scopus 로고
    • A Comparison of Dividend, Cash Flow, and Earnings Approaches to Equity Valuation
    • Penman, Stephen H., and Theodore Sougiannis. 1998. "A Comparison of Dividend, Cash Flow, and Earnings Approaches to Equity Valuation." Contemporary Accounting Research, vol. 15, no. 3 (Fall):343-383.
    • (1998) Contemporary Accounting Research , vol.15 , Issue.3 FALL , pp. 343-383
    • Penman, S.H.1    Sougiannis, T.2
  • 35
    • 0000673228 scopus 로고
    • Annual Survey of Economic Theory: The Theory of Depreciation
    • Preinreich, Gabriel. 1938. "Annual Survey of Economic Theory: The Theory of Depreciation." Econometrica, vol. 6:219-241.
    • (1938) Econometrica , vol.6 , pp. 219-241
    • Preinreich, G.1
  • 36
    • 0002940613 scopus 로고
    • Dividend Yields Are Equity Risk Premiums
    • Rozeff, Michael. 1984. "Dividend Yields Are Equity Risk Premiums." Journal of Portfolio Management, vol. 11, no. 1 (Fall):68-75.
    • (1984) Journal of Portfolio Management , vol.11 , Issue.1 FALL , pp. 68-75
    • Rozeff, M.1
  • 38
    • 0030506194 scopus 로고    scopus 로고
    • Time-Varying Expected Small Firm Returns and Closed-End Fund Discounts
    • Swaminathan, Bhaskaran. 1996. "Time-Varying Expected Small Firm Returns and Closed-End Fund Discounts." Review of Financial Studies, vol. 9, no. 3 (Fall):845-887.
    • (1996) Review of Financial Studies , vol.9 , Issue.3 FALL , pp. 845-887
    • Swaminathan, B.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.