Billett, Matthew T.; Jiang, Zhan; Rego, Lopo L. - In: Journal of Economic Behavior & Organization 107 (2014) PB, pp. 744-759
We explore the influence of customer perceptions from the product market on firms’ return characteristics in the stock market. Using customers’ opinions on over 1200 brands, we find that stocks of companies with prestigious brands have high market-to-book ratios and large negative loadings...