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Profitability Anomaly and Aggregate Volatility Risk
Barinov, Alexander - 2020
Firms with lower profitability have lower expected returns because such firms perform better than expected when market … with this hypothesis, the profitability anomaly is stronger for distressed and volatile firms, and aggregate volatility …
Persistent link: https://www.econbiz.de/10012855868
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Relative Firm Profitability and Stock Return Sensitivity to Industry-Level News
Hao, Shengquan - 2011
This study provides theory and evidence to demonstrate how relative firm profitability within an industry affects stock …, and that (2) this inverse relation between relative profitability and return sensitivity is more pronounced when there is … the two fundamental factors that contribute to profitability – cost efficiency and market share – each exhibit an effect …
Persistent link: https://www.econbiz.de/10013128314
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Private Information and Bank-Loan Pricing : The Effect of Upcoming Corporate Spinoffs
Hope, Ole-Kristian; Porumb, Vlad-Andrei; Rusanescu, Simona - 2023
Corporate spinoffs are important events that are accompanied by valuation and credit-risk implications for the parent firm. Among other benefits, spinoffs can improve corporate focus and enhance valuation transparency. In the debt-contracting context, however, spinoffs can also be associated...
Persistent link: https://www.econbiz.de/10014348753
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Chapter 25 : Stock Market Anomalies
Fan, Steve Z. - 2017
Stock market anomalies representing the predictability of cross-sectional stock returns are one of most controversial topics in financial economic research. This chapter reviews several well-documented and pervasive anomalies in the literature, including investment-related anomalies, value...
Persistent link: https://www.econbiz.de/10012954410
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Chapter 20 : Traditional Asset Allocation Securities: Stocks, Bonds, Real Estate, and Cash
Milliken, Christopher - 2017
Asset allocation models have evolved in complexity with the development of modern portfolio theory, but they continue to operate under the assumption of investor rationality and other assumptions that do not hold in the real world. For this reason, academics and industry professionals make...
Persistent link: https://www.econbiz.de/10012954547
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Chapter 12 : A Closer Look at the Causes and Consequences of Frequent Stock Trading
Strahilevitz, Michal Ann - 2017
This chapter examines the phenomenon of frequent stock trading. Specifically, it covers the ample research demonstrating the negative effects of frequent trading on investor returns, as well as several possible underlying causes for this irrational behavior. Possible causes of frequent trading...
Persistent link: https://www.econbiz.de/10012954896
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Private communication between managers and financial analysts : evidence from taxi ride patterns in New York City
Choy, Stacey; Hope, Ole-Kristian - 2022
analysts’ earnings forecast errors in periods after EAD and positively associated with the profitability of recommendations …
Persistent link: https://www.econbiz.de/10012886366
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Risk-Free Discount Rates and Stock Returns
Griskaite, Aurelija; Lueg, Rainer - 2023
This research examines the ability of Earnings less Risk-free Interest Charge (ERIC) to predict stock returns. We find that that earnings, cash flow, and total income are more strongly associated with stock returns than ERIC or residual income. In conclusion, our research suggests that mandatory...
Persistent link: https://www.econbiz.de/10014255447
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Chapter 1 : Investor Behavior: An Overview
Baker, H. Kent - 2014
“Investor Behavior: An Overview” is the introduction chapter for the book Investor Behavior: The Psychology of Financial Planning and Investing edited by H. Kent Baker and Victor Ricciardi that presents a historical perspective of investor psychology and theory. The field of investor...
Persistent link: https://www.econbiz.de/10013060110
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Private Information and Bank-Loan Pricing : The Effect of Upcoming Corporate Spinoffs
Hope, Ole-Kristian; Porumb, Vlad-Andrei; Rusanescu, Simona - 2022
Corporate spinoffs are important events that are accompanied by valuation and credit-risk implications for the parent firm. Among other benefits, spinoffs can improve corporate focus and enhance valuation transparency. In the debt-contracting context, however, spinoffs can also lead to potential...
Persistent link: https://www.econbiz.de/10013492459