Please use this identifier to cite or link to this item:
http://hdl.handle.net/20.500.12188/4953| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Naumoski, Aleksandar | en_US |
| dc.contributor.author | Nestorovski, Metodija | en_US |
| dc.date.accessioned | 2019-11-05T11:09:59Z | - |
| dc.date.available | 2019-11-05T11:09:59Z | - |
| dc.date.issued | 2018 | - |
| dc.identifier.citation | Naumoski A., & Nestorovski M. (2018). Ex-ante Equity Risk Premia: Expectational Estimates Using Stock Market Returns Forecasts in the Emerging Equity Market. Panoeconomicus, 65(4), 479-507 | en_US |
| dc.identifier.uri | http://hdl.handle.net/20.500.12188/4953 | - |
| dc.description.abstract | We estimated the ex-ante equity risk premium for the Republic of Macedonia, which is a young, small and open emerging market. We polled academics and practitioners for their expectations on the stock market index MBI10 as a proxy for market portfolio. The risk premium is the expected MBI10 return relative to a government bond yield. Using the Kolmogorov–Smirnov and Anderson–Darling goodness-of-fit tests we determined the best fitted statistical distribution, and consequently estimated the short-term ERP of 8.55 and long-term average ERP for the next 10 years of 7.76. The estimated ex-ante ERP is higher and similar as it is in the other emerging markets | en_US |
| dc.language.iso | en | en_US |
| dc.publisher | Savez Ekonomista Vojvodine | en_US |
| dc.relation.ispartof | Panoeconomicus | en_US |
| dc.subject | emerging markets, forecast, market returns, risk-free rate, expected equity risk premium, goodness-of-fit test | en_US |
| dc.title | Ex-ante equity risk premia: Expectational estimates using stock market returns forecasts in the emerging equity market | en_US |
| dc.type | Journal Article | en_US |
| dc.identifier.doi | 10.2298/PAN130925004N | - |
| item.fulltext | With Fulltext | - |
| item.grantfulltext | open | - |
| crisitem.author.dept | Faculty of Economics | - |
| Appears in Collections: | Faculty of Economics 03: Journal Articles / Статии во научни списанија | |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| Naumoski&Nestorovski, PANOECONOMICUS, 2018, Vol. 65, Issue 4, pp. 479-507.pdf | 702.38 kB | Adobe PDF |  View/Open |
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