investment - results that are consistent with the model's predictions. -- investment ; stock market ; bubble ; dispersion …

investment - results that are consistent with the model's predictions. …

This paper examines to what extent stock market anomalies are driven by firm fundamentals in an investment-based asset … anomaly. The estimated model generates large and significant size, momentum, profitability, investment, and intangibles …

through market-timing and catering, after controlling for growth and financial slack. This investment-mispricing link is more … sensitivity of investments to mispricing is a function of the nature of mispricing, the type of investment, and the firm …

quantitatively. Our central insight is that optimal investment is an important driving force of these anomalies. The model … simultaneously reproduces procyclical equity issuance waves, the negative relation between investment and average returns, long …

performance on financial performance. Our estimation results can be explained by the high number of confounding financial effects …

We document sizeable and surprising differences in investment behavior between stock market listed and privately held … responsive to changes in investment opportunities compared to matched private firms, even during the recent financial crisis … that investment behavior diverges most strongly in industries in which stock prices are particularly sensitive to current …