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An Empirical Evaluation of an Induced Theory of Financial Ratios
16 references·4 citing·34 second hop
An Empirical Evaluation of an Induced Theory of Financial Ratios (1995)An Empirical Evaluation of an Induced The…Financial Statement Analysis (2022)Financial Statement AnalysisIntroduction to Stochastic Processes (2014)Introduction to Stochastic Pr…Financial statement analysis (2007)Financial statement analysisManagement and Cost Accounting (1992)Management and Cost AccountingThe Analysis and Use of Financial Ratios: A Review Article (1987)The Analysis and Use of Finan…Co-Integration and Error Correction: Representation, Estimation, and Testing (1987)Co-Integration and Error Corr…Pitfalls in the use of Time as an Explanatory Variable in Regression (1983)Pitfalls in the use of Time a…Methodological issues in the use of financial ratios (1979)Methodological issues in the …An Intertemporal Capital Asset Pricing Model (1973)An Intertemporal Capital Asse…Optimum consumption and portfolio rules in a continuous-time model (1971)Optimum consumption and portf…Testing for Serial Correlation in Least-Squares Regression When Some of the Regressors are Lagged Dependent Variables (1970)Testing for Serial Correlatio…Lifetime Portfolio Selection under Uncertainty: The Continuous-Time Case (1969)Lifetime Portfolio Selection …Industry Averages as Targets for Financial Ratios (1969)Industry Averages as Targets …A Behavioural Theory of the Firm (1965)A Behavioural Theory of the F…A Behavioural Theory of the Firm (1965)A Behavioural Theory of the F…Studies in the Quantity Theory of Money. (1957)Studies in the Quantity Theor…Financial Reporting: Long-Term Change of Financial Ratios (2018)Financial Reporting: Long-Ter…Profitability Ratios in the Early Stages of a Startup (2017)Profitability Ratios in the E…Further empirical analysis of the time series properties of financial ratios based on a panel data approach (2004)Further empirical analysis of…Double Entry Bookkeeping and the Distributional Properties of a Firm's Financial Ratios (2004)Double Entry Bookkeeping and …Aspects of the Theory of Risk-Bearing. (1966)LIFETIME PORTFOLIO SELECTION BY DYNAMIC STOCHASTIC PROGRAMMING (1975)Risk Aversion in the Small and in the Large (1976)Predicting Excess Stock Returns Out of Sample: Can Anything Beat the Historical Average? (2007)Lifetime Portfolio Selection By Dynamic Stochastic Programming (1969)An equilibrium characterization of the term structure (1977)A Theory of the Term Structure of Interest Rates (1985)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. 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References

  • 1987Co-Integration and Error Correction: Representation, Estimation, and Testing31,983 cited
  • 1973An Intertemporal Capital Asset Pricing Model6,557 cited
  • 1971Optimum consumption and portfolio rules in a continuous-time model5,966 cited
  • 1969Lifetime Portfolio Selection under Uncertainty: The Continuous-Time Case5,199 cited
  • 2014Introduction to Stochastic Processes2,383 cited
  • 1965A Behavioural Theory of the Firm1,360 cited
  • 1970Testing for Serial Correlation in Least-Squares Regression When Some of the Regressors are Lagged Dependent Variables1,184 cited
  • 1992Management and Cost Accounting1,055 cited
  • 2007Financial statement analysis1,022 cited
  • 1957Studies in the Quantity Theory of Money.825 cited
  • 1965A Behavioural Theory of the Firm539 cited
  • 2022Financial Statement Analysis383 cited
  • 1987The Analysis and Use of Financial Ratios: A Review Article324 cited
  • 1979Methodological issues in the use of financial ratios256 cited
  • 1969Industry Averages as Targets for Financial Ratios252 cited
  • 1983Pitfalls in the use of Time as an Explanatory Variable in Regression

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204 cited

Cited by

  • 2017Profitability Ratios in the Early Stages of a Startup27 cited
  • 2004Further empirical analysis of the time series properties of financial ratios based on a panel data approach21 cited
  • 2004Double Entry Bookkeeping and the Distributional Properties of a Firm's Financial Ratios19 cited
  • 2018Financial Reporting: Long-Term Change of Financial Ratios18 cited