profitability of momentum-related asset pricing factors. Before the reform, funds pursuing the same investment style had correlated … reform happened. We estimate that the reform explains 25%-50% of the long-term profitability drop in momentum-related factors …

Privatization has been shown to increase growth and profitability of public firms. However, effects on consumers are … operators may improve hospitals' financial performance, but a focus on profitability may adversely affect access to care for …-2018 period. Private operators improve profitability so that hospitals generate a modest surplus, primarily by increasing mean …