Guo, Hui (contributor); Higbee, Jason (contributor) - 2005 - rev.
]), however, find that realized stock market variance, MV, has negligible
forecasting power for returns. In a recent study, Guo …,
argue that the forecasting power of many commonly used variables—e.g., the dividend
yield, the default premium, the term … that their
conclusion should be interpreted with caution because these authors do not use the more
efficient forecasting …