The article "Return On Equity: An Empirical Study" looks at the return on equity of companies listed on the KLSE main board from 1987 to 1996. The study focused on property, financial, consumer, and industrial sectors. The findings show that over the 10-year period, the average return on equity was 1%. Property and industrial sectors had negative returns, while financial and consumer sectors had positive returns. Further analysis on 22 selected companies revealed that the finance sector had the best overall performance in terms of capital gain. The study concludes that a positive return on equity does not always translate to a positive gain for investors.