Lee, Jen-Sin; Huang, Gow-Liang; Kuo, Chin-Tai; Lee, … - In: Economic Modelling 29 (2012) 6, pp. 2392-2406
returns and past turnover ratios is positively correlated under high-performing stocks, but negatively correlated under low …-performing stocks. Based on the above findings, this paper regards past turnover ratios as a leading indicator of stock returns and …