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This study seeks to resolve a gap in the Capital Markets research literature by examining 30 selected individual firms listed on the Australian stock market during the period 1950 to 2004, using equilibrium correction modelling techniques. What little research has been conducted on this historical data has used cross-sectional techniques rather than the long-run, time-series, analysis as used in this study. Moreover, dynamic analysis in the CMR has tended to focus on indexes or portfolio data rather than using firm-specific case study data of the type modelled here. No prior research has taken…mehr

Produktbeschreibung
This study seeks to resolve a gap in the Capital Markets research literature by examining 30 selected individual firms listed on the Australian stock market during the period 1950 to 2004, using equilibrium correction modelling techniques. What little research has been conducted on this historical data has used cross-sectional techniques rather than the long-run, time-series, analysis as used in this study. Moreover, dynamic analysis in the CMR has tended to focus on indexes or portfolio data rather than using firm-specific case study data of the type modelled here. No prior research has taken this approach using Australian data. The results of this study indicated that an equilibrium correction relationship between market values and accounting numbers for firms listed on the Australian Stock Exchange (ASX) could be determined by using accounting and macroeconomic regressors.
Autorenporträt
Victoria Clout completed her PhD thesis at Queensland University of Technology and was nominated for an Outstanding Doctoral Thesis Award. Victoria has worked at various universities, currently she is an Assistant Professor at the University of Western Australia. Victoria currently has various research projects within capital markets research.