...-of-sample predictability Time-varying predictability C10 C13 G12 G21 Forecasting market excess returns has received a great deal of attention from researchers because it has implications for portfolio management, market efficiency and economic policy[ 1 ],[ 2 ]. Many variables have been...

... Limited Licensed re-use rights only Dividend policy Conditional relationship Convexity Nonlinearity Price earnings ratio C10 G12 G35 Boonlert Jitmaneeroj can be contacted at: boonlert_jit@utcc.ac.th The empirical studies of the determinants of P/E ratio generally use...