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dc.contributor.authorTomaszewski, Oskaren_NZ
dc.date.available2011-04-07T03:14:54Z
dc.date.copyright1999-03-31en_NZ
dc.identifier.citationTomaszewski, O. (1999, March 31). Value stocks vs growth stocks: Is there a P/E effect in New Zealand? (Thesis). Retrieved from http://hdl.handle.net/10523/1362en
dc.identifier.urihttp://hdl.handle.net/10523/1362
dc.description.abstractThis study examines the empirical relationship between the price-to-earnings (P/E) ratio and returns on the common stock of NZSE firms. The results show a substantial difference in raw returns between low P/E and high P/E stocks, and between negative earnings and high P/E stocks. However, once returns are adjusted for risk, using both the Capital Asset Pricing Model and the alternative model put forward by Fama and French (1993), the difference in returns among our P/E stocks becomes insignificant. Our findings, therefore, suggest that there is no P/E effect in New Zealand.en_NZ
dc.subjectprice-to-earnings ratioen_NZ
dc.subjectNZSEen_NZ
dc.subjectearningsen_NZ
dc.subjectNew Zealanden_NZ
dc.subject.lcshHF Commerceen_NZ
dc.subject.lcshHF5601 Accountingen_NZ
dc.subject.lcshHG Financeen_NZ
dc.titleValue stocks vs growth stocks: Is there a P/E effect in New Zealand?en_NZ
dc.typeThesisen_NZ
dc.description.versionUnpublisheden_NZ
otago.bitstream.pages85en_NZ
otago.date.accession2007-04-19en_NZ
otago.schoolFinanceen_NZ
thesis.degree.disciplineFinanceen_NZ
thesis.degree.grantorUniversity of Otagoen_NZ
thesis.degree.levelMasters Thesesen_NZ
otago.interloanyesen_NZ
otago.openaccessAbstract Only
dc.identifier.eprints653en_NZ
otago.school.eprintsFinance & Quantitative Analysisen_NZ
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