Journal of Banking & Finance Vol. 34 No. 7 2010
Sales order backlogs and momentum profits
Abstract
Winner stocks have higher changes in sales order backlogs and a sales order backlog factor is significant in explaining various winner minus loser returns and often reduces the αs by big margins. We argue that this factor is a proxy for innovation in demand in the economy and it is likely to relate to expected growth risks and future business conditions.
- DOI
- 10.1016/j.jbankfin.2010.03.003
- Volume
- 34
- Issue
- 7
- Pages
- 1564-1575
- Language
- en
- Sources
- bibtex:phds-export.bib crossref openalex