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Full-Text Articles in Business
Stock Market Returns And Real Activity: International Evidence, Thomas C. Harris, Tim C. Opler
Stock Market Returns And Real Activity: International Evidence, Thomas C. Harris, Tim C. Opler
Historical Working Papers
Stock market data for sixteen countries were examined by regressing stock returns on current and future production growth and proxies for risk and the price of risk. Results suggest that changes in expected cash flows account for the regression results.