This study examines whether world trade uncertainty affects future stock returns. The greater the past returns of a company are positively related to world trade uncertainty, the higher would be its future returns. Buying firms whose past returns are more positively related to world trade...

This study examines whether world trade uncertainty affects future stock returns. The greater the past returns of a company are positively related to world trade uncertainty, the higher would be its future returns. Buying firms whose past returns are more positively related to world trade...