LEADER 03209nam 2200565 450 001 9910463681703321 005 20200520144314.0 010 $a3-95489-569-2 035 $a(CKB)2670000000534402 035 $a(EBL)1640416 035 $a(SSID)ssj0001217718 035 $a(PQKBManifestationID)11689421 035 $a(PQKBTitleCode)TC0001217718 035 $a(PQKBWorkID)11203874 035 $a(PQKB)10401449 035 $a(MiAaPQ)EBC1640416 035 $a(Au-PeEL)EBL1640416 035 $a(CaPaEBR)ebr10856490 035 $a(OCoLC)871780153 035 $a(EXLCZ)992670000000534402 100 $a20140419h20142014 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aValue stocks beat growth stocks $ean empirical analysis for the German stock market /$fSchiessl, Christian 210 1$aHamburg, Germany :$cAnchor Academic Publishing,$d2014. 210 4$dİ2014 215 $a1 online resource (72 p.) 300 $aDescription based upon print version of record. 311 $a3-95489-069-0 320 $aIncludes bibliographical references. 327 $aValue Stocks beat Growth Stocks; Table of contents; List of tables; List of figures; List of abbreviations; List of symbols; 1. Introduction; 1.1 Motivation; 1.2. Structure and objective; 2. Conceptual definition; 2.1. Value investing; 2.2. Growth investing; 2.3. Links between Value and Growth investing; 3. Asset pricing theories; 3.1. Capital Asset Pricing Model; 3.1.1. Risk-free interest rate; 3.1.2. Market risk-premium; 3.1.3. Beta factor; 3.1.4. Criticism and extensions; 3.2. Fama and French three factor model; 3.3. Explanation approaches for the value premium 327 $a3.4. Carhart four factor model 4. Determinants of expected stock returns; 4.1. Price-to-book; 4.2. Price-to-earnings; 4.3. Dividend yield; 4.4. Size; 4.5. Momentum; 4.6. Further determinants; 5. Empirical studies for the German stock market; 6. Own empirical analysis; 6.1. Data and methodology; 6.2. Descriptive statistics; 6.3. Seasonality; 6.4. Univariate and multivariate regressions; 7. Conclusion; Reference list 330 $aBased on a 'free of survivorship-bias' sample of German stocks listed at the Frankfurt stock exchange, the study investigates the ability of hedge portfolio formation structures, built of three value premium proxies (P/B, P/E, and DY), the size factor, and the technical momentum factor, to generate excess returns in the period 1992 to 2011. First, the author characterizes and defines the significant terms that are in connection with value and growth investing. He continues with the discussion of asset pricing with the CAPM, the Fama and French three-factor model, and the Carhart extension, 606 $aStocks$xHistory 606 $aStocks$xRate of return 608 $aElectronic books. 615 0$aStocks$xHistory. 615 0$aStocks$xRate of return. 676 $a332.0415 700 $aSchiessl$b Christian$0920706 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910463681703321 996 $aValue stocks beat growth stocks$92064922 997 $aUNINA