remain invested in momentum even when the crash risk is known to be high when (1) he competes for funds from return and (2 …We combine self-collected historical data from 1867 to 1907 with CRSP data from 1926 to 2012, to examine the risk and … return over the past 140 years of one of the most popular mechanical trading strategies — momentum. We find that momentum has …

-based component of bank CEO compensation contracts. We also examine the relationships between equity- based compensation and risk …