Durré, Alain; Giot, Pierre - Nationale Bank van België/Banque national de Belqique (BNB) - 2005
This paper assesses the possible contemporaneous relationship between stock index prices, earnings and long … framework, our analysis looks at three hypotheses. First, is there a long-term contemporaneous relationship between earnings …-run relationship or does the latter only involve stock prices and earnings? We also study the short-term impact of changes in long …