Pub Date : 1987-11-01DOI: 10.1080/10293523.1987.11082263
C. Firer, M. Ward, F. Teeuwisse
{"title":"Market timing and the JSE","authors":"C. Firer, M. Ward, F. Teeuwisse","doi":"10.1080/10293523.1987.11082263","DOIUrl":"https://doi.org/10.1080/10293523.1987.11082263","url":null,"abstract":"","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1987-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129296531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1987-11-01DOI: 10.1080/10293523.1987.11082262
S. R. Favish, J. Affleck-Graves
AbstractThis paper examines the risk premium earned by SA investors on equity investments over and above that earned on risk free assets such as Treasury bills. The results presented show that on average the risk premium paid to SA investors has been greater than that paid to US investors on the New York Stock Exchange. In addition, the paper considers a number of models which have been proposed for estimating future market premia. It is shown empirically that these models provide superior estimates of future market premia than those obtained using a purely historical average method. Of the models examined, the double exponential smoothing methodology and the trend line forecasting method produced the best results. Finally, the results clearly indicate that the models provide much better estimates of long term market premia than of short term market premia.
{"title":"Estimating the market risk premium on The Johannesburg Stock Exchange using ex post and ex ante models","authors":"S. R. Favish, J. Affleck-Graves","doi":"10.1080/10293523.1987.11082262","DOIUrl":"https://doi.org/10.1080/10293523.1987.11082262","url":null,"abstract":"AbstractThis paper examines the risk premium earned by SA investors on equity investments over and above that earned on risk free assets such as Treasury bills. The results presented show that on average the risk premium paid to SA investors has been greater than that paid to US investors on the New York Stock Exchange. In addition, the paper considers a number of models which have been proposed for estimating future market premia. It is shown empirically that these models provide superior estimates of future market premia than those obtained using a purely historical average method. Of the models examined, the double exponential smoothing methodology and the trend line forecasting method produced the best results. Finally, the results clearly indicate that the models provide much better estimates of long term market premia than of short term market premia.","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1987-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115593229","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1987-05-01DOI: 10.1080/10293523.1987.11082259
N. Sealy
{"title":"Dividend policy, share price and return: a study on the Johannesburg Stock Exchange","authors":"N. Sealy","doi":"10.1080/10293523.1987.11082259","DOIUrl":"https://doi.org/10.1080/10293523.1987.11082259","url":null,"abstract":"","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1987-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125608725","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1987-05-01DOI: 10.1080/10293523.1987.11082260
G. T. Jones
{"title":"Investment basics XX Risk and return—Part 3","authors":"G. T. Jones","doi":"10.1080/10293523.1987.11082260","DOIUrl":"https://doi.org/10.1080/10293523.1987.11082260","url":null,"abstract":"","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1987-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116698246","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1987-05-01DOI: 10.1080/10293523.1987.11082256
E. Shung, D. A. Stadler, J. Affleck-Graves
{"title":"The performance of family controlled companies on the JSE: A financial and investment evaluation","authors":"E. Shung, D. A. Stadler, J. Affleck-Graves","doi":"10.1080/10293523.1987.11082256","DOIUrl":"https://doi.org/10.1080/10293523.1987.11082256","url":null,"abstract":"","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1987-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134219226","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1986-11-01DOI: 10.1080/10293523.1986.11082251
W. G. Klerck
{"title":"Forecasting share prices on The Johannesburg Stock Exchange using multivariate time series analysis","authors":"W. G. Klerck","doi":"10.1080/10293523.1986.11082251","DOIUrl":"https://doi.org/10.1080/10293523.1986.11082251","url":null,"abstract":"","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1986-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132970522","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1986-11-01DOI: 10.1080/10293523.1986.11082252
Thomas Plaistowe, R. Knight
{"title":"Premium to book value may be a contrary indicator","authors":"Thomas Plaistowe, R. Knight","doi":"10.1080/10293523.1986.11082252","DOIUrl":"https://doi.org/10.1080/10293523.1986.11082252","url":null,"abstract":"","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1986-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129817357","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1986-11-01DOI: 10.1080/10293523.1986.11082250
G. Barr, B. Kantor
{"title":"The gold price and the forward rate of interest","authors":"G. Barr, B. Kantor","doi":"10.1080/10293523.1986.11082250","DOIUrl":"https://doi.org/10.1080/10293523.1986.11082250","url":null,"abstract":"","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1986-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132437625","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1986-11-01DOI: 10.1080/10293523.1986.11082249
N. J. Lovell-Greene, J. Affleck-Graves, A. Money
{"title":"A survey of investment appraisal methods used by financial analysts in South Africa","authors":"N. J. Lovell-Greene, J. Affleck-Graves, A. Money","doi":"10.1080/10293523.1986.11082249","DOIUrl":"https://doi.org/10.1080/10293523.1986.11082249","url":null,"abstract":"","PeriodicalId":126195,"journal":{"name":"The Investment Analysts Journal","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1986-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127639922","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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