An alternative fundamental weighting scheme based on enterprise value multiple

Lin, Wenguang; Sanger, Gary C.

doi:10.1057/s41260-019-00112-w

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2021

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“…For example, Arnott, et al (2005) test book value, trailing five-year average cash flow, trailing five-year average revenues, trailing five-year average sales, trailing five-year average gross dividends, and total employment in their initial analysis. Lin and Sanger (2019) introduce an enterprise value calculation that accounts for debt as well as equity value. Balatti, Brooks, and Kappou (2017) focus exclusively on dividend and other income statement measures.…”

Section: Literary Researchmentioning

confidence: 99%

An Employment-Weighted Municipal Stock Index

Brune¹,

Files²

2021

IJBM

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State and local officials are often tasked with policy decisions that are influenced by projections of future economic conditions. However, properly assessing and predicting local economic performance is challenging. Common macroeconomic indicators can be helpful, but additional tools are needed. Stock indices have traditionally been used in the investment community to evaluate performance. While a recent surge in fundamental indexing has led to a debate over performance measurement, other uses of fundamental indices have been largely ignored. We introduce an employment-weighted stock index as a supplement to traditional forecasting measures for policymakers at the state and local levels.

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Section: Literary Researchmentioning

confidence: 99%