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Stock Prices and Price/Earning Ratio Relationship: A Sectoral Analysis with Panel Data

Author

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  • Nargelecekenler, Mehmet

    (Uludag University)

Abstract

In this study, we investigate with two different models that whether a meaningful relationship between price/earnings ratio and stock prices or not in the sectoral basis for the 2000-2008 period. We use one-way fixed effects models and test for low price/earnings ratio effect. According to the results, there is not relationship price/earnings ratio all sectors in ISE. Six months in certain sectors, certain sectors for the three-month period may be talking about such a relationship. Therefore, when we investing for relevance sector should be decided according to the model is valid. The estimated parameters show that there is low price/earnings ratio relationship is valid for all sectors, except the metal goods industry in a three-month period.

Suggested Citation

  • Nargelecekenler, Mehmet, 2011. "Stock Prices and Price/Earning Ratio Relationship: A Sectoral Analysis with Panel Data," Business and Economics Research Journal, Uludag University, Faculty of Economics and Administrative Sciences, vol. 2(2), pages 165-165, April.
    • Handle: RePEc:ris:buecrj:0048
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    More about this item

    Keywords

    Stock prices; Prices/earnings ratio; Panel data; Fixed effect; PCSE;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution

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