Feenstra, Dick W.; Huijgen, Carel A.; Wang, Hua - Faculteit Economie en Bedrijfskunde, Rijksuniversiteit … - 2000
Although the accounting rate of return (ARR) is traditionally regarded as an important profitability measure in ratio analysis, there has been relatively little theoretical and empirical analysis on its statistical properties and its intrinsic ability to explain market returns. This paper...