Relationship between price-earnings ratios and expected return of common stocks: The case of Malaysia
This paper investigates the relationship between PIE ratio of a stock and its expected return. Spearman rank correlatiOn, a nonparametric test, was used to test this relationship. ThIs study found significant relatIOnship between the two for the entire period 1980 to 1989 and for the sub-period 1980...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Penerbit Universiti Kebangsaan Malaysia
1991
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| Online Access: | http://journalarticle.ukm.my/7938/1/765-1461-1-SM.pdf |
| _version_ | 1825726146095874048 |
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| author | Ismail Ibrahim, Othman Yong, |
| author_facet | Ismail Ibrahim, Othman Yong, |
| author_sort | Ismail Ibrahim, |
| collection | UKM |
| description | This paper investigates the relationship between PIE ratio of a stock and its expected return. Spearman rank correlatiOn, a nonparametric test, was used to test this relationship. ThIs study found significant relatIOnship between the two for the entire period 1980 to 1989 and for the sub-period 1980 101984, which suggest that the market for MalaYSia stocks IS not efficient In the semi-strong form of the efficient market hyporhesis (EMH). However, for the sub-period 1985 to 1989, the relationship is not significant. |
| first_indexed | 2024-03-06T04:06:25Z |
| format | Article |
| id | ukm.eprints-7938 |
| institution | Universiti Kebangsaan Malaysia |
| language | English |
| last_indexed | 2024-03-06T04:06:25Z |
| publishDate | 1991 |
| publisher | Penerbit Universiti Kebangsaan Malaysia |
| record_format | dspace |
| spelling | ukm.eprints-79382016-12-14T06:45:42Z http://journalarticle.ukm.my/7938/ Relationship between price-earnings ratios and expected return of common stocks: The case of Malaysia Ismail Ibrahim, Othman Yong, This paper investigates the relationship between PIE ratio of a stock and its expected return. Spearman rank correlatiOn, a nonparametric test, was used to test this relationship. ThIs study found significant relatIOnship between the two for the entire period 1980 to 1989 and for the sub-period 1980 101984, which suggest that the market for MalaYSia stocks IS not efficient In the semi-strong form of the efficient market hyporhesis (EMH). However, for the sub-period 1985 to 1989, the relationship is not significant. Penerbit Universiti Kebangsaan Malaysia 1991 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/7938/1/765-1461-1-SM.pdf Ismail Ibrahim, and Othman Yong, (1991) Relationship between price-earnings ratios and expected return of common stocks: The case of Malaysia. Jurnal Pengurusan, 10 . pp. 95-103. ISSN 0127-2713 http://ejournals.ukm.my/pengurusan/issue/view/200 |
| spellingShingle | Ismail Ibrahim, Othman Yong, Relationship between price-earnings ratios and expected return of common stocks: The case of Malaysia |
| title | Relationship between price-earnings ratios and expected return of common stocks: The case of Malaysia |
| title_full | Relationship between price-earnings ratios and expected return of common stocks: The case of Malaysia |
| title_fullStr | Relationship between price-earnings ratios and expected return of common stocks: The case of Malaysia |
| title_full_unstemmed | Relationship between price-earnings ratios and expected return of common stocks: The case of Malaysia |
| title_short | Relationship between price-earnings ratios and expected return of common stocks: The case of Malaysia |
| title_sort | relationship between price earnings ratios and expected return of common stocks the case of malaysia |
| url | http://journalarticle.ukm.my/7938/1/765-1461-1-SM.pdf |
| work_keys_str_mv | AT ismailibrahim relationshipbetweenpriceearningsratiosandexpectedreturnofcommonstocksthecaseofmalaysia AT othmanyong relationshipbetweenpriceearningsratiosandexpectedreturnofcommonstocksthecaseofmalaysia |