Jiaxin Peng

York, UK

My name is 彭佳欣 (Peng Jiaxin).

I am a PhD student in the Department of Economics and Related Studies at the University of York under the supervision of Dr. Adam Golinski.

My research interests are mainly in asset pricing with stock markets, covering the role of firm characteristics in pricing stocks and the relationship between the stock market and macroeconomic factors.

News

Jun 29, 2020	My Personal Blog

Selected Papers

2022

Job Market

Earnings-to-Market Ratios, Long-Term Change in Earnings and Expected Stock Returns

Jiaxin Peng

2022

Abs

This paper examines value effects proxies, book-to-market ratio(BTM), retained earnings-to-market ratio(RTM), and contributed capital-to-market ratio(CTM) by dividing them into past five-year variables and compares the performance at five-year, one-year, and one-month intervals. The results reveal that RTM exhibits significance only without any time lags, whereas contributed capital growth emerges as the most significant factor when considering past information in the regressions. Meanwhile, shorter intervals of prior stock returns exhibit greater predictive power for future stock returns compared to longer-term prior returns. Moreover, enhancing the data updating frequency from annual to monthly intervals leads to incremental improvements in the significance of price-scaled variables.