Observed and “fundamental” price–earning ratios: A comparative analysis of high-tech stock evaluation in the US and in Europe

By assuming that a large share of investors (which we call fundamentalists) follows a fundamental approach to stock picking, we build a discounted cash flow (DCF) model and test on a sample of high-tech stocks whether the strong and the weak version of the model are supported by data from the US and...

Full description

Bibliographic Details

Published in:	Journal of international money and finance Vol. 24; no. 4; pp. 549 - 581
Main Authors:	Bagella, Michele, Becchetti, Leonardo, Adriani, Fabrizio
Format:	Journal Article
Language:	English
Published:	Kidlington Elsevier Ltd 01-06-2005 Elsevier Elsevier Science Ltd
Series:	Journal of International Money and Finance
Subjects:	Asset pricing Comparative analysis Discounted cash flow Financial market microstructure International finance Investment policy Price earnings ratio Studies Technology stocks United States > US Europe G12 Financial market microstructure G14 Asset pricing
Online Access:	Get full text
Tags:	Add Tag No Tags, Be the first to tag this record!