Regression analysis of financial ratios and stock returns : evidence from Singapore.
Kok, Raymond Seng Hun.
Lien, Ber Luen.
Date of Issue1996
College of Business (Nanyang Business School)
Using fundamental analysis of published financial information, a buy and hold annual strategy which takes into account the year on year percentage change in the variables, instead of the actual values of the variables, is superior to a short term monthly strategy. Furthermore, the significant variables in the annual and monthly models are consistent with theories in fundamental analysis on choosing investments over different time periods.
NANYANG TECHNOLOGICAL UNIVERSITY