The Price Is (Almost) Right
By Randy Cohen, Christopher Polk, Tuomo Vuolteenaho. 2009
185 citations recorded by the source corpus.
Subfields: Accounting, Finance
View Paper: https://www.semanticscholar.org/paper/c32cc3050940bd4855a5c88c43f047c2130553a9
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Accounting
- Yuhang Xing
- Christopher Polk
- Pietro Veronesi
- S. B. Thompson
- Tano Santos
- Tuomo Vuolteenaho
- John Y. Campbell
- Lu Zhang
In Finance
- Christopher Polk
- Yuhang Xing
- Pietro Veronesi
- Tano Santos
- S. B. Thompson
- Tuomo Vuolteenaho
- John Y. Campbell
- Lu Zhang
Citations in the corpus
- Investment and Cash Flow: New Evidence (2016, unknown): “Even if market prices measure true value with error, it still seems reasonable to assume that stock prices are driven primarily by fundamental value 25 (see, e.g., Cohen, Polk, and Vuolteenaho, 2009).”
- Growth or Glamour? Fundamentals and Systematic Risk in Stock Returns (2005, unknown): “Cornell (1999) and Lettau and Wachter (2007), for example, argue that growth stock pro ts accrue further in the future than value stock pro ts, so growth stocks are longer-duration assets whose values are more sensitive to changes in the market discount rate.”
- Interpreting the Value Effect Through the Q-Theory: An Empirical Investigation (2008, background): “Table (9) reportsα—the estimate of the unexplained expected excess returns after controlling for risk factors—and robust t-statistics for each α for equations (1)-(4).”
- Cash Flow Duration and the Term Structure of Equity Returns (2018, unknown): “In these instances, I pro-rate the delisting return over the intervening period as Cohen, Polk, and Vuolteenaho (2009).”
- Habit formation, the cross section of stock returns and the cash-flow risk puzzle (2010, methodology): “Here, we get at this question by measuring instead the model implied “cash-flow betas,” as defined and estimated in empirical data by Cohen, Polk, and Vuolteenaho (2009), and compare the model-implied values to their empirical counterparts.”
- Identifying Expectation Errors in Value/Glamour Strategies: A Fundamental Analysis Approach (2012, unknown): “…value and growth stocks possess differential sensitivities to time-varying macroeconomic risks (e.g., Vassalou 2003;Petkova and Zhang 2005;Zhang 2005; Lettau and Wachter 2007;Cohen, Polk, and Vuolteenaho 2009; Da and Warachka 2009; Campbell, Polk, and Vuolteenaho 2010;Santos and Veronesi 2010).”
- Bad Beta, Good Beta (2004, unknown): “This result is consistent with the empirical results of Cohen, Polk, and Vuolteenaho (2003).”
- Cross-sectional forecasts of the equity premium (2006, methodology): “controls. Given that Cohen et al. (2003, 2005b) show that the majority of the crosssectional variation in valuation ratios across firms is the result of differences in expected”
- Quality minus junk (2018, unknown): “Vuolteenaho (2002), Cohen, Polk, and Vuolteenaho (2003, 2009), and Fama and French (2006) consider individual stocks.”