We study the link between the profitability of momentum strategies and firm size, drawing on an extensive dataset … covering 14 stock markets across the globe. International momentum profitability is markedly higher in medium-size than in big … incurred when implementing this strategy. Thus, while small stocks exhibit momentum, exploiting this feature is hardly feasible …

premium attached to the option-like payoffs of past losers. An implementable dynamic momentum strategy based on forecasts of … each momentum strategy's mean and variance generates an unconditional Sharpe ratio approximately double that of the static … momentum strategy. Further, we show that momentum returns in panic states are correlated with, but not explained by, volatility …

competitive strategy constitutes an important determinant of firms' investment decisions. The analysis reveals that becoming an … acquirer or a target depends on the strategy. Moreover, M&A deals are more likely between companies implementing the same … strategy. Those deals yield higher combined announcement returns, asset and sales growth. The same strategy effect is stronger …