Economics, Econometrics and Finance
8 years ago

Past sales growth linked to stock returns in Athens Stock Exchange.

Is Sales Growth Associated with Market, Size and Value Factors in Returns? Evidence from Athens Stock Exchange (1998-2003)
Grigoris Michailidis, Stavros Tsopoglou, D Papanastasiou, Mete Feridun

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The article explores if a company's past sales growth is linked to market, size, and value factors affecting stock returns in the Athens Stock Exchange from 1998 to 2003. The study shows that sales growth is indeed connected to these factors, indicating a relationship between sales growth, company size, and book-to-market equity in predicting stock returns. The findings suggest that economic variables influencing earnings and returns, not captured by overall market trends, may explain risk premiums associated with company size and book-to-market equity.