The Characteristics That Provide Independent Information about Average U.S. Monthly Stock Returns (Digest Summary): J. Green, J. Hand, and X. Zhang, Review of Financial Studies, Vol. 30, No. 12, (December 2017): 4389-4436

Research output: Contribution to specialist publicationBook/Film/Article review

Abstract

The authors evaluate 94 uncorrelated characteristics of average U.S. monthly stock returns. Only 12 survive testing once the results are controlled for micro-capitalization stocks and data-snooping bias. Long-short equity strategies appear to benefit from the inclusion of all 94 variables.
Original languageEnglish
Volume48
No.6
Specialist publicationCFA Digest
PublisherCFA Institute
DOIs
Publication statusPublished - Jun 2018

Cite this