期刊名称：International Journal of Economics and Research
电子版ISSN：2229-6158
出版年度：2010
卷号：1
期号：1
页码：47-54
出版社：Sanben Agency
摘要：In this study, we measured the relationship between the price multipliers of NASDAQ-100 stocks measured in May 2010 and abnormal returns of the same stocks during the following two months. Our aim was to examine how several well-known price multipliers, specifically trailing P/E, forward P/E and PEG, are related to abnormal return. We found that all three price multipliers failed to outperform the NASDAQ-100 index. That is, they cannot be used to shape a winning portfolio if the size of the firm is not taken into consideration. However, within a group of large market capitalization firms, relatively high forward P/E firms successfully outperformed the NASDAQ-100.
