Recanati Graduate School of Business Administration, Tel-Aviv University and The Wharton School, University of Pennsylvania (Kandel) and The Wharton School, University of Pennsylvania and National Bureau of Economic Research (Stambaugh). The authors are grateful for comments by René Stulz, three anonymous referees, and workshop participants at Baruch College (CUNY), Duke University, Northwestern University, Ohio State University, Rutgers University, the University of North Carolina, the University of Pennsylvania, the University of Rochester, the University of Washington, and Washington University in St. Louis. We also wish to thank participants in the NBER 1995 Summer Institute, especially Bill Schwert, the discussant for the paper.
On the Predictability of Stock Returns: An Asset-Allocation Perspective
Version of Record online: 30 APR 2012
© 1996 the American Finance Association
The Journal of Finance
Volume 51, Issue 2, pages 385–424, June 1996
How to Cite
KANDEL, S. and STAMBAUGH, R. F. (1996), On the Predictability of Stock Returns: An Asset-Allocation Perspective. The Journal of Finance, 51: 385–424. doi: 10.1111/j.1540-6261.1996.tb02689.x
- Issue online: 30 APR 2012
- Version of Record online: 30 APR 2012
Options for accessing this content:
- If you are a society or association member and require assistance with obtaining online access instructions please contact our Journal Customer Services team.
- If your institution does not currently subscribe to this content, please recommend the title to your librarian.
- Login via other institutional login options http://onlinelibrary.wiley.com/login-options.
- You can purchase online access to this Article for a 24-hour period (price varies by title)
- If you already have a Wiley Online Library or Wiley InterScience user account: login above and proceed to purchase the article.
- New Users: Please register, then proceed to purchase the article.
Login via OpenAthens
Search for your institution's name below to login via Shibboleth.
Registered Users please login:
- Access your saved publications, articles and searches
- Manage your email alerts, orders and subscriptions
- Change your contact information, including your password
Please register to:
- Save publications, articles and searches
- Get email alerts
- Get all the benefits mentioned below!