在看Common risk factors in the returns on stocks and bonds,里面有这么个指标,不清楚它的含义。
麻烦谁知道的帮忙解答下,谢谢!
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楼主: 黑目shadow
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[其它] 求问:book-to-market equity是什么意思?是用来衡量什么的指标? |

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已卖:1180份资源 教授 30%
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回帖推荐cpamodeler 发表于4楼 查看完整内容 1. Balance value / stock value
2. Among firms with the highest risk of distress, the difference in returns between high and low B/E securities is more than twice as large as the return in other groups, and is driven by extremely low returns on firms with low B/M.
The index is about risk based explanation of the book to market premium.
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