-skilled managers produce larger expected total investment profits, and their portfolio weights correlate more highly with assets …' future returns. Becoming more skilled, however, can reduce a manager's expected profit if enough other managers also become … more skilled. The greater skill allows those managers to identify profit opportunities more accurately, but active …

This paper examines the impact of unionization on profit- ability, growth and productivity using time series data on … negative union effects on profitability, but growth, productivity and the capital-labor ratio appear to be little affected by … may have longer term implications for efficiency since the impact on profitability appears to fall most heavily on firms …

The purpose of this paper is to treat scale economies, profit-maximizing markups, economic profitability, capacity … run profit potential from markup behavior. As a result, on average economic profits are normal, but declining … profitability is prevalent in most industries since the early 1970s. Also, although cost and revenue shares tend to be approximately …

realizations. We show that the forecasts significantly affect farmer investment decisions and that these responses account for a … the main instrument, that the return to agricultural investment depends substantially on the conditions under which it is … estimated. Using the full rainfall distribution and our profit function estimates, we find that Indian farmers on average under …

Using a unique new dataset linking administrative data on investment performance and financial knowledge, we examine …

, profitability, investment, and stock returns for firms in the 'crisis' country as well as competitors in the rest of the world … operating-profit growth rates about 15%-25% higher than competitors in other countries; 3) The effect of devaluations on fixed … capital investment and stock returns (and therefore expected long-run output and profits) is determined by capital …

technological shocks embodied in new capital (IST shocks), which affect the profitability of new investments. Firms' exposure to IST … firm characteristics - Tobin's Q, past investment, earnings-price ratios, market betas, and idiosyncratic volatility of … returns by aggregate investment and valuation ratios; and v) a downward sloping term structure of risk premia for dividend …

In this paper I analyze the relationships among investment, q, and cash flow in a tractable stochastic model in which … operating profit of capital, I extend the model to include measurement error and analyze the cash-flow coefficient in … regressions of investment on q and cash flow. In empirical studies, the estimated cash-flow coefficient is generally positive and …

This paper evaluates the effects of fiscal policy on investment using a panel of OECD countries. In particular, we … investigate how different types of fiscal policy affect profits and , as a result, investment. We find a sizable negative effect … of public spending -- and in particular of its public wage component -- on business investment. This result is consistent …