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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...

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Main Authors: Ismail Ibrahim,, Othman Yong,
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 1991
Online Access:http://journalarticle.ukm.my/7938/1/765-1461-1-SM.pdf
http://journalarticle.ukm.my/7938/
http://ejournals.ukm.my/pengurusan/issue/view/200
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spelling my-ukm.journal.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
institution Universiti Kebangsaan Malaysia
building Perpustakaan Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
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.
format Article
author Ismail Ibrahim,
Othman Yong,
spellingShingle Ismail Ibrahim,
Othman Yong,
Relationship between price-earnings ratios and expected return of common stocks: The case of Malaysia
author_facet Ismail Ibrahim,
Othman Yong,
author_sort Ismail Ibrahim,
title 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_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_sort relationship between price-earnings ratios and expected return of common stocks: the case of malaysia
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 1991
url http://journalarticle.ukm.my/7938/1/765-1461-1-SM.pdf
http://journalarticle.ukm.my/7938/
http://ejournals.ukm.my/pengurusan/issue/view/200
_version_ 1643737304074813440
score 13.211869

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