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A demand system approach to asset pricing

Koijen, Ralph S. J.; Yogo, Motohiro - In: Journal of political economy 127 (2019) 4, pp. 1475-1515

Persistent link: https://www.econbiz.de/10012098422

Exchange rates and asset prices in a global demand system

Koijen, Ralph S. J.; Yogo, Motohiro - 2020

Persistent link: https://www.econbiz.de/10012229584

Durability of output and expected stock returns

Gomes, João F.; Kogan, Leonid; Yogo, Motohiro - In: Journal of political economy 117 (2009) 5, pp. 941-986

Persistent link: https://www.econbiz.de/10003936676

Does firm value move too much to be justified by subsequent changes in cash flow?

Larrain, Borja; Yogo, Motohiro - 2007

, interest, and net repurchases of equity and debt. When discount rates are low and equity issuance is high, expected cash‐flow growth is low because firms repurchase debt to offset equity … between expected returns and expected cash-flow growth. 1.1 Dividend Yield versus Equity Payout Yield Let P and D denote the … variation in expected returns that is independent of oﬀsetting variation in expected cash-flow growth. 4 Explaining Asset …

Persistent link: https://www.econbiz.de/10003411354

Durability of output and expected stock returns

Gomes, João; Kogan, Leonid; Yogo, Motohiro - 2007

The demand for durable goods is more cyclical than that for nondurable goods and services. Consequently, the cash flow and stock returns of durable-good producers are exposed to higher systematic risk. Using the NIPA input-output tables, we construct portfolios of durable-good, nondurable-good,...

Persistent link: https://www.econbiz.de/10003449724

Does firm value move too much to be justified by subsequent changes in cash flow?

Larrain, Borja; Yogo, Motohiro - In: Journal of financial economics 87 (2008) 1, pp. 200-226

Persistent link: https://www.econbiz.de/10003629007

Does firm value move too much to be justified by subsequent changes in cash flow?

Larrain, Borja (contributor); Yogo, Motohiro (contributor) - 2005

and debt. When discount rates are low and equity issuance is high, expected cash‐flow growth is low because firms … variation in discount rates that is not offset by common variation with expected cashflow growth. -- asset valuation ; excess …

Persistent link: https://www.econbiz.de/10003230361

Does firm value move too much to be justified by subsequent changes in cash flow?

Larrain, Borja (contributor); Yogo, Motohiro (contributor) - 2006 - Rev.

Persistent link: https://www.econbiz.de/10003726899

Durability of output and expected stock returns

Gomes, João (contributor); Kogan, Leonid (contributor); … - 2007 - Rev.

"The demand for durable goods is more cyclical than that for nondurable goods and services. Consequently, the cash flow and stock returns of durable-good producers are exposed to higher systematic risk. Using the NIPA input-output tables, we construct portfolios of durable-good, nondurable-good,...

Persistent link: https://www.econbiz.de/10003726989

Durability of Output and Expected Stock Returns

Gomes, Joao F. - 2010

The demand for durable goods is more cyclical than that for nondurable goods and services. Consequently, the cash flows and stock returns of durable-good producers are exposed to higher systematic risk. Using the benchmark input-output accounts of the National Income and Product Accounts, we...

Persistent link: https://www.econbiz.de/10012760299