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Cited by 3,430

The DOI matches its Crossref record; 9 of the 9 references it cites were found in a registry or an index.

Size and Book‐to‐Market Factors in Earnings and Returns

FAMA, EUGENE F., FRENCH, KENNETH R.·1995·The Journal of Finance
DOI 10.1111/j.1540-6261.1995.tb05169.x
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Abstract

We study whether the behavior of stock prices, in relation to size and book‐to‐market‐equity (BE/ME), reflects the behavior of earnings. Consistent with rational pricing, high BE/ME signals persistent poor earnings and low BE/ME signals strong earnings. Moreover, stock prices forecast the reversion of earnings growth observed after firms are ranked on size and BE/ME. Finally, there are market, size, and BE/ME factors in earnings like those in returns. The market and size factors in earnings help explain those in returns, but we find no link between BE/ME factors in earnings and returns.

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Crossref · 10.1111/j.1540-6261.1995.tb05169.x

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Metadata

Authors
FAMA, E. F., & FRENCH, K. R.
Venue
The Journal of Finance
Publisher
Wiley
Published
1995-03
Volume
50
Issue
1
Pages
131-155
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.1995.tb05169.x
OpenAlex
W2149170345
Cited by
3,430
References
9
FWCI
61.01
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Size and Book‐to‐Market Factors in Earnings and Returns. https://app.cochat.ai/papers/10.1111/j.1540-6261.1995.tb05169.x
The paper
FAMA, E. F., & FRENCH, K. R. (1995). Size and Book‐to‐Market Factors in Earnings and Returns. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.1995.tb05169.x

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.