The author is from the School of Business, Stockholm University. He is especially grateful to Erik Eklund at SIX AB for providing all data to this study. He is also grateful to Eric Flamholtz for giving him the opportunity to pursue part of this work at the Anderson Graduate School of Management, UCLA. He thanks an anonymous referee for useful comments which have substantially improved the paper. He also thanks Lars Nordén, Thomas Hartman, Jan-Erik Gröjer, Niclas Hagelin, Ulf Johanson, participants at the 24th annual congress of the European Accounting Association, 2001, Athens, and participants at the 2000 workshop on empirical finance, School of Business, Stockholm University for comments and suggestions on this paper. Any errors that remain are solely the author's responsibility. This research was partly financed by Svenska Handelsbankens Research Funds and the Swedish Institute, which are gratefully acknowledged. (Paper received May 2002, revised and accepted November 2002)
Human Capital and Stock Returns: Is the Value Premium an Approximation for Return on Human Capital?
Article first published online: 28 MAY 2004
Journal of Business Finance & Accounting
Volume 31, Issue 3-4, pages 333–358, April 2004
How to Cite
Hansson, B. (2004), Human Capital and Stock Returns: Is the Value Premium an Approximation for Return on Human Capital?. Journal of Business Finance & Accounting, 31: 333–358. doi: 10.1111/j.0306-686X.2004.00542.x
- Issue published online: 28 MAY 2004
- Article first published online: 28 MAY 2004
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