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- W2265324624 abstract "Because of higher financial and operating risks small firms are considered to carry higher investment risks than larger ones. Plenty of empirical research found that relatively small / large companies are characterized by relatively high / low long-term average returns as well as relatively high / low variability of these returns. However, findings of different studies are far from being unequivocal as regards statistical significance, scope, stability and even direction of the relationship between firm-size and long-term risks and returns. In this paper we examine the size-effect on the Polish stock market in 1999-2011 years, using four alternative company-size measures. Our research confirmed the existence of statistically significant and strong negative relationships between long-term stock returns and company-size (with all four company-size variables statistically significant). However, our findings as regards analogous relationships between portfolios’ Betas and company-size turned out to be much more mixed." @default.
- W2265324624 created "2016-06-24" @default.
- W2265324624 creator A5021252325 @default.
- W2265324624 date "2012-01-01" @default.
- W2265324624 modified "2023-09-27" @default.
- W2265324624 title "Company-Size Effect on the Polish Stock Market" @default.
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