Matches in SemOpenAlex for { <https://semopenalex.org/work/W3121500857> ?p ?o ?g. }
- W3121500857 endingPage "467" @default.
- W3121500857 startingPage "427" @default.
- W3121500857 abstract "This paper lays out a decomposition of book-to-price (B/P) that derives from the accounting for book value and that articulates precisely how B/P “absorbs” leverage. The B/P ratio can be decomposed into an enterprise book-to-price (that pertains to operations and potentially reflects operating risk) and a leverage component (that reflects financing risk). The empirical analysis shows that the enterprise book-to-price ratio is positively related to subsequent stock returns but, conditional upon the enterprise book-to-price, the leverage component of B/P is negatively associated with future stock returns. Further, both enterprise book-to-price and leverage explain returns over those associated with Fama and French nominated factors—including the book-to-price factor—albeit negatively so for leverage. The seemingly perverse finding with respect to the leverage component of B/P survives under controls for size, estimated beta, return volatility, momentum, and default risk." @default.
- W3121500857 created "2021-02-01" @default.
- W3121500857 creator A5002568203 @default.
- W3121500857 creator A5022596803 @default.
- W3121500857 creator A5024814088 @default.
- W3121500857 date "2007-05-01" @default.
- W3121500857 modified "2023-10-13" @default.
- W3121500857 title "The Book-to-Price Effect in Stock Returns: Accounting for Leverage" @default.
- W3121500857 cites W1513538699 @default.
- W3121500857 cites W1927089931 @default.
- W3121500857 cites W1985349674 @default.
- W3121500857 cites W1995834279 @default.
- W3121500857 cites W2017002353 @default.
- W3121500857 cites W2043464706 @default.
- W3121500857 cites W2047134779 @default.
- W3121500857 cites W2048801439 @default.
- W3121500857 cites W2051986033 @default.
- W3121500857 cites W2084310832 @default.
- W3121500857 cites W2104795328 @default.
- W3121500857 cites W2111255674 @default.
- W3121500857 cites W2113208252 @default.
- W3121500857 cites W2116277545 @default.
- W3121500857 cites W2134807435 @default.
- W3121500857 cites W2135863416 @default.
- W3121500857 cites W2159522238 @default.
- W3121500857 cites W2165305482 @default.
- W3121500857 cites W2889615898 @default.
- W3121500857 cites W2889817882 @default.
- W3121500857 cites W3021190191 @default.
- W3121500857 cites W3121300545 @default.
- W3121500857 cites W3122570839 @default.
- W3121500857 cites W3122632517 @default.
- W3121500857 cites W3123003122 @default.
- W3121500857 cites W3124240175 @default.
- W3121500857 cites W3124580969 @default.
- W3121500857 cites W3124631325 @default.
- W3121500857 cites W3125346872 @default.
- W3121500857 cites W4230474071 @default.
- W3121500857 cites W4231097497 @default.
- W3121500857 cites W4231546411 @default.
- W3121500857 cites W4232111244 @default.
- W3121500857 cites W4233781758 @default.
- W3121500857 cites W4248283403 @default.
- W3121500857 cites W4252235576 @default.
- W3121500857 cites W4254814954 @default.
- W3121500857 cites W70121024 @default.
- W3121500857 doi "https://doi.org/10.1111/j.1475-679x.2007.00240.x" @default.
- W3121500857 hasPublicationYear "2007" @default.
- W3121500857 type Work @default.
- W3121500857 sameAs 3121500857 @default.
- W3121500857 citedByCount "236" @default.
- W3121500857 countsByYear W31215008572012 @default.
- W3121500857 countsByYear W31215008572013 @default.
- W3121500857 countsByYear W31215008572014 @default.
- W3121500857 countsByYear W31215008572015 @default.
- W3121500857 countsByYear W31215008572016 @default.
- W3121500857 countsByYear W31215008572017 @default.
- W3121500857 countsByYear W31215008572018 @default.
- W3121500857 countsByYear W31215008572019 @default.
- W3121500857 countsByYear W31215008572020 @default.
- W3121500857 countsByYear W31215008572021 @default.
- W3121500857 countsByYear W31215008572022 @default.
- W3121500857 countsByYear W31215008572023 @default.
- W3121500857 crossrefType "journal-article" @default.
- W3121500857 hasAuthorship W3121500857A5002568203 @default.
- W3121500857 hasAuthorship W3121500857A5022596803 @default.
- W3121500857 hasAuthorship W3121500857A5024814088 @default.
- W3121500857 hasConcept C105795698 @default.
- W3121500857 hasConcept C106159729 @default.
- W3121500857 hasConcept C121955636 @default.
- W3121500857 hasConcept C127413603 @default.
- W3121500857 hasConcept C143724316 @default.
- W3121500857 hasConcept C144133560 @default.
- W3121500857 hasConcept C151730666 @default.
- W3121500857 hasConcept C153083717 @default.
- W3121500857 hasConcept C162324750 @default.
- W3121500857 hasConcept C204036174 @default.
- W3121500857 hasConcept C2988984586 @default.
- W3121500857 hasConcept C33923547 @default.
- W3121500857 hasConcept C47143671 @default.
- W3121500857 hasConcept C556758197 @default.
- W3121500857 hasConcept C78519656 @default.
- W3121500857 hasConcept C86803240 @default.
- W3121500857 hasConceptScore W3121500857C105795698 @default.
- W3121500857 hasConceptScore W3121500857C106159729 @default.
- W3121500857 hasConceptScore W3121500857C121955636 @default.
- W3121500857 hasConceptScore W3121500857C127413603 @default.
- W3121500857 hasConceptScore W3121500857C143724316 @default.
- W3121500857 hasConceptScore W3121500857C144133560 @default.
- W3121500857 hasConceptScore W3121500857C151730666 @default.
- W3121500857 hasConceptScore W3121500857C153083717 @default.
- W3121500857 hasConceptScore W3121500857C162324750 @default.
- W3121500857 hasConceptScore W3121500857C204036174 @default.
- W3121500857 hasConceptScore W3121500857C2988984586 @default.
- W3121500857 hasConceptScore W3121500857C33923547 @default.
- W3121500857 hasConceptScore W3121500857C47143671 @default.
- W3121500857 hasConceptScore W3121500857C556758197 @default.
- W3121500857 hasConceptScore W3121500857C78519656 @default.