Patrick Scheurle investigates refined market segments such as small value stocks or large growth stocks with respect to return predictability. The empirical research reveals significant positive first-order serial correlation in the returns of large value stocks, large neutral stocks, small neutral stocks, and small growth stocks.

Dr. Patrick Scheurle obtained his doctorate with Prof. Dr. Dr. h.c. Klaus Spremann at the University of St. Gallen.

Literature Review.- Return Predictability and the Real Economy.- Study Design and Data.- Empirical Part I - Testing for Predictability.- Forecasting Models.- Empirical Part II - Investment Strategies.- Conclusion.