dc.rights.license | Kūrybinių bendrijų licencija / Creative Commons licence | en_US |
dc.contributor.author | Zaremba, Adam | |
dc.date.accessioned | 2024-10-23T12:23:25Z | |
dc.date.available | 2024-10-23T12:23:25Z | |
dc.date.issued | 2014 | |
dc.date.submitted | 2014-09-17 | |
dc.identifier.issn | 2029-7491 | en_US |
dc.identifier.uri | https://etalpykla.vilniustech.lt/handle/123456789/155383 | |
dc.description.abstract | Using sorting, cross-sectional tests, regression, and tests of a monotonic relation, the study examines the return patterns related to seven distinct quality characteristics: accruals, bid-ask spread, balance sheet liquidity, profitability, leverage, payout ratio and turnover. The investigation of more than 1.300 stocks from 11 Central and Eastern European countries for the period 2002–2014 documents a strong gross-profitability premium and an inverted liquidity premium. Profitable and not heavily leveraged companies provide a partial hedge against market distress. Finally, the paper proposes quality spreads as a forecasting tool and shows that they have predictive abilities over quality premiums related to leverage, profitability and bid-ask spread. | en_US |
dc.format.extent | 22 p. | en_US |
dc.format.medium | Tekstas / Text | en_US |
dc.language.iso | en | en_US |
dc.relation.uri | https://etalpykla.vilniustech.lt/handle/123456789/155341 | en_US |
dc.rights | Attribution-NonCommercial 4.0 International | en_US |
dc.rights.uri | http://creativecommons.org/licenses/by-nc/4.0/ | en_US |
dc.source.uri | https://journals.vilniustech.lt/index.php/BMEE/article/view/3504 | en_US |
dc.subject | cross-section of stock returns | en_US |
dc.subject | quality investing | en_US |
dc.subject | CEE stock market | en_US |
dc.subject | Central and Eastern Europe | en_US |
dc.subject | gross profitability premium | en_US |
dc.subject | liquidity premium | en_US |
dc.subject | leverage | en_US |
dc.subject | bid-ask spread | en_US |
dc.subject | accruals | en_US |
dc.title | Quality investing in CEE emerging markets | en_US |
dc.type | Konferencijos publikacija / Conference paper | en_US |
dcterms.accessRights | Laisvai prieinamas / Openly available | en_US |
dcterms.accrualMethod | Rankinis pateikimas / Manual submission | en_US |
dcterms.alternative | Financial risk management of business development | en_US |
dcterms.dateAccepted | 2014-11-08 | |
dcterms.issued | 2014-12-23 | |
dcterms.license | CC BY NC | en_US |
dcterms.references | 66 | en_US |
dc.description.version | Taip / Yes | en_US |
dc.contributor.institution | Poznan University of Economics | en_US |
dcterms.sourcetitle | Business, Management and Education | en_US |
dc.description.issue | no. 2 | en_US |
dc.description.volume | vol. 12 | en_US |
dc.identifier.eissn | 2029-6169 | en_US |
dc.publisher.name | Vilnius Gediminas Technical University Press | en_US |
dc.publisher.name | Vilniaus Gedimino technikos universitetas | en_US |
dc.publisher.country | Lithuania | en_US |
dc.publisher.country | Lietuva | en_US |
dc.publisher.city | Vilnius | en_US |
dc.identifier.doi | https://doi.org/10.3846/bme.2014.241 | en_US |