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Alternative Industry Performance and Risk

Author

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  • Reilly, Frank K.
  • Drzycimski, Eugene F.

Abstract

Industry analysis has long been a cornerstone in both the academic and professional segments of the investment community. Concepts such as “an industry providing downside protection” or “another is certain to outperform the market” have been prevalent throughout the profession. The importance of industry analysis in terms of stock price changes has been suggested by King, while the influence of the industry factor on corporate earnings changes has been documented by Brown and Ball. These studies and others have indicated that industry analysis has been an important part of security valuation.

Suggested Citation

  • Reilly, Frank K. & Drzycimski, Eugene F., 1974. "Alternative Industry Performance and Risk," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 9(3), pages 423-446, June.
    • Handle: RePEc:cup:jfinqa:v:9:y:1974:i:03:p:423-446_01
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    Cited by:

    1. George Athanassakos, 2002. "The Scrutinized-firm Effect, Portfolio Rebalancing, Stock Return Seasonality, and the Pervasiveness of the January Effect in Canada," Multinational Finance Journal, Multinational Finance Journal, vol. 6(1), pages 1-27, March.
    2. Christian Pedersen & Stephen Satchell, 2003. "Can NN-algorithms and macroeconomic data improve OLS industry returns forecasts?," The European Journal of Finance, Taylor & Francis Journals, vol. 9(3), pages 273-289.
    3. George Athanassakos, 1997. "Estimating the Cost of Equity and Equity Risk-Premia of Canadian Firms," Multinational Finance Journal, Multinational Finance Journal, vol. 1(3), pages 229-254, September.

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