The Value Spread

Common risk factors in the returns on stocks and bonds

1993 • 26,177 citations

A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity

1980 • 25,774 citations

The Cross‐Section of Expected Stock Returns

1992 • 15,031 citations

Risk, Return, and Equilibrium: Empirical Tests

1973 • 14,580 citations

Large Sample Properties of Generalized Method of Moments Estimators

1982 • 13,306 citations

Multifactor Explanations of Asset Pricing Anomalies

1996 • 6,381 citations

Earnings, Book Values, and Dividends in Equity Valuation*

1995 • 5,133 citations

The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors

1988 • 3,689 citations

Size and Book‐to‐Market Factors in Earnings and Returns

1995 • 3,145 citations

Regression standard errors in clustered samples

1993 • 2,863 citations

Forward Exchange Rates as Optimal Predictors of Future Spot Rates: An Econometric Analysis

1980 • 2,192 citations

Persuasive evidence of market inefficiency

1985 • 2,037 citations

Characteristics, Covariances, and Average Returns: 1929 to 1997

2000 • 1,194 citations

What Drives Firm‐Level Stock Returns?

2002 • 1,029 citations

Explaining the Variance of Price–Dividend Ratios

1992 • 519 citations

Analyzing Complex Survey Data

1990 • 434 citations

The time-series relations among expected return, risk, and book-to-market

1999 • 285 citations

Residual Earnings Valuation With Risk and Stochastic Interest Rates

1999 • 239 citations

The Diversification Discount: Cash Flows Versus Returns

2001 • 192 citations

Style Timing

2000 • 170 citations

Predicting Stock Returns Using Industry-Relative Firm Characteristics

2000 • 161 citations

Accounting Diversity and International Valuation

1996 • 87 citations

Understanding the Aggregate Book-to-Market Ratio

1999 • 57 citations

Securities legislation and the accounting profession in the 1930s: The rhetoric and reality of the American Dream

2001 • 40 citations