that of corporate investment efficiency. China's stock market appears to be aggregating diffuse information and generating … cost of equity capital, constraining the investment of China's smaller, more profitable enterprises. Further reforms that …China is the world's largest investor and greatest contributor to global economic growth by wide margins. The …

last two decades is highly correlated with that of corporate investment efficiency. China's stock market appears to be … access it. Yet this high alpha amounts to an inflated cost of equity capital, constraining the investment of China's smaller … informativeness will be important to increase China's investment efficiency and fuel its continued economic growth. Finally, we …

. Price informativeness is significantly correlated with corporate investment efficiency. For international investors, China …This paper shows that, counter to common perception, stock prices in China are strongly linked to firm fundamentals …

last two decades is highly correlated with that of corporate investment efficiency. China's stock market appears to be … access it. Yet this high alpha amounts to an inflated cost of equity capital, constraining the investment of China's smaller … informativeness will be important to increase China's investment efficiency and fuel its continued economic growth. Finally, we …

A bottom-up measure of aggregate investment plans, namely, aggregate expected investment growth (AEIG) can negatively …-varying risk premium. These findings lend support to neoclassical models with investment lags …

Consistent with neoclassical models with investment lags, we find that a bottom-up measure of aggregate investment … plans, namely, aggregate expected investment growth, negatively predicts future stock market returns. with an adjusted in … suggest that the predictive ability of aggregate expected investment growth is more likely to be driven by the time …