Do Stock Returns Predict the Future?
证券回报可以预测企业的未来吗？
Fifth, the market turnover on the explanatory power of stock returns is weak.
第五，市场换手率对我国股票收益率解释力较弱。
The relationship between stock returns and inflation can be either negative or positive.
股票收益率和通货膨胀率之间既可以正相关，也可以负相关。
The paper notes that stock market returns drive much of the manager’s income.
证券市场通过高薪激励经理。
Stock and bond returns were about even from about 1870 to 1940.
1870年到1940年，股票和债券的回报大致相当。
Very high initial returns can be found in China's a share stock market.
中国的A股市场存在着非常高的初始回报率。
Stock market returns, however, do tend to exhibit mean reversion.
但股票的回报率却呈现出均值回归的特性。
IPO on the first day the stock market excess returns is a common anomaly.
IPO首日超额收益是证券市场上普遍存在的一种异常现象。
IPO on the first day the stock market excess returns is a common anomaly.
IPO首日超额收益是证券市场上普遍存在的一种异常现象。
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