PRICE-EARNING(P/E)RATIOS OF BROAD CATEGORIES OF U.S. STOCKS AND 3-MONTH T-BILL RATE: EVIDENCE FROM COINTEGRATION ANALYSES
This paper explores the dynamic relationships between PIE ratios and three-month T-bill rates for broad categories of US stocks within the cointegration framework by employing quarterly data from 1953.1 to 1998.IV. The ADF unit root test results show that PIE ratios, stock prices and earnings as we...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
People & Global Business Association (P&GBA)
2001-09-01
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| Series: | Global Business and Finance Review |
| Subjects: | |
| Online Access: | http://www.gbfrjournal.org/pds/journal/thesis/20150625111008-IB4JD.pdf |