Amoako‐Adu, Ben; Smith, Brian - In: Managerial Finance 28 (2002) 4, pp. 48-59
Criticizes previous research on price/earnings ratios (PER) for neglecting their historical links with interest rates and analyses the causal links between interest ratres and the PERs of the Toronto Stock Exchange 300 Index (TSE300) and of seven major Canadian industries 1965‐1997. Explains...
