Park, Keehwan; Jung, Mookwon; Fang, Zhongzheng - In: Global business and finance review 27 (2022) 1, pp. 83-94
and risk in a unifying framework to explain the value and growth spread in the stock market. The conditional CAPM is a … equation, this paper derives the relationship among return, profit growth, and risk. We use three different risk metrics … proposed by Park and Fang (2021). We regress the value minus growth return on profit growth and risk variables to determine …
