decomposition, distinguishing cash flow and discount rate betas in up and down markets. Using CRSP data over 1963--2008, we find …

, momentum, low-risk, and quality premia within a sample of 24 international equity markets for the years 1990–2016. We provide … strong evidence that the top performing factors continue to outperform the worst performing factors both in individual equity … markets and in the cross-country framework. The momentum in factor premia is largely explained by the classic stock …

; equity premium puzzle ; implied rate of return …

reviews the theory and literature on market efficiency and market anomalies. We give a brief review on market efficiency and …. This review is useful to academics for developing cutting-edge treatments of financial theory that EMH, anomalies, and … makers, when reviewing their policies, to avoid excessive fluctuations in stock markets. …

cash flows and discount rates, in understanding equity risk premia …

comparison to the CAPM. In the case of Croatian stock market, size and B/M factors are not always significant, but on average … emerging capital markets bear their own specificity, special care needs to be taken when applying existing or developing new …