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In the early 1980s, a team of researchers from the University of Illinois under the leadership of Nobel laureate Eugene F. Spina decided to study the relationships between multiple variables in a financial context. The team wanted to determine the relationships between the following variables: 1. Price change 2. Stock price 3. Interest rate 4. Ratio of assets to liabilities 5. Equity ratio 6. Dividend yield 7. Ratios of assets to earnings (ROA) At that time, nobody
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