The paper aims to evaluate the effect of exogenous variables and phenomena on the relation
between P/E ratio and its determinants by researching stock market data from the period of …

Abstract Models based on economic profit divide the value of the company to “base value”
and “added value”. Best-known economic profit models are EVA and Residual income …

Active portfolio management is widely used in investment practice with the goal of securing
better performance results from the investment process. Active portfolio management has …

Since the first appearance of the fundamental law of active management, researchers have
proposed several directions for its improvement. One important area is in active risk. As the …

Active portfolio management is widely used in investment practice with the goal of securing
better performance results from the investment process. Active portfolio management has …

Active investment has been established as one attractive approach for portfolio management.
In order to achieve additional return–alpha, it requires investors to rebalance their …

Market timing is preferred path to alpha because it is very simple to implement even by
individual investors. In this paper we apply the Hallerbach (2014) methodology to emerging …

This paper is concentrated on those factors which have significant influence over stock
returns on five South East Asia markets. Quantifying these factors and accounting for their …

Cornerstone of the active portfolio management is the skill of the manager to select stocks
with positive risk-adjusted alphas. Measuring this skill is a difficult task. On one hand, we have …

Finding a proper way of estimating cost of equity is important question in the field of finance.
Knowing what the cost of their funds is very valuable to financial managers, especially in the …