Is Sales Growth Associated with Market, Size and Value Factors in Returns? Evidence from Athens Stock Exchange

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dc.contributor.authorMichailidis, Grigoris
dc.contributor.authorTsopoglou, Stavros
dc.contributor.authorPapanastasiou, Demetrios
dc.contributor.authorFeridun, Mete
dc.date.accessioned2025-03-06T21:04:10Z
dc.date.available2025-03-06T21:04:10Z
dc.date.issued2006
dc.departmentÇağ Üniversitesi
dc.description.abstractThis article investigates whether past sales growth of a firm is associated with market, size and value factors in returns so it can be inferred that this fundamental variable is related to size and book-to-market equity that help capture the cross-section of average stock returns in the Athens stock exchange during the period 1998-2003.The findings of the study provide supportive evidence that past sales growth of a firm is associated with market, size and value factors in returns so it can be inferred that this fundamental variable is related to size and book-tomarket equity that help capture the cross-section of average stock returns in Athens Stock Exchange. Several unanswered questions arise from this study such as: (i) what are the underlying economic state variables that produce variation in earnings and returns related to size and BE/ME? (ii) do these unnamed state variables produce variation in consumption and wealth that is not captured by an overall market factor and so can explain the risk premiums in returns associated with size and BE/ME?
dc.identifier.endpage35
dc.identifier.issn1304-8392
dc.identifier.issue1
dc.identifier.startpage24
dc.identifier.urihttps://hdl.handle.net/20.500.12507/2320
dc.identifier.volume3
dc.language.isoen
dc.publisherÇağ Üniversitesi
dc.relation.ispartofÇağ University Journal of Social Sciences
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_DergiPark_20250215
dc.subjectSales growth
dc.subjectmarket
dc.subjectvalue factors in returns
dc.titleIs Sales Growth Associated with Market, Size and Value Factors in Returns? Evidence from Athens Stock Exchange
dc.typeArticle

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