Return Predictability Along the Supply Chain: The International Evidence
Posted: 25 May 2010
Date Written: May 25, 2010
In this study of a sample of equities listed on the exchanges of 22 developed countries, equity returns of customer industries led the returns of supplier industries. This customer-supplier/lead-lag effect exhibits characteristics consistent with the view that the effect results from a slow diffusion of value-relevant information.
Keywords: Equity Investments, Fundamental Analysis (Sector, Industry, Company), Valuation of Individual Equity Securities, Equity Market Valuation, Return Analysis, Portfolio Management, Equity Portfolio Management Strategies
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