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Risk-Free Discount Rates and Stock Returns

Aurelija GriskaiteRainer Lueg

出版	SSRN, 2023
URL	http://books.google.com.hk/books?id=rFL3zwEACAAJ&hl=&source=gbs_api

註釋

This research examines the ability of Earnings less Risk-free Interest Charge (ERIC) to predict stock returns. We find that that earnings, cash flow, and total income are more strongly associated with stock returns than ERIC or residual income. In conclusion, our research suggests that mandatory metrics typically outperform ERIC and residual income.