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This paper provides new evidence about the link between firm level total factor productivity (TFP) and stock returns … market ratio, investment, and hiring rate. Low productivity firms earn a significant premium over high productivity firms in …
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Medical innovation enhances labor health, promotes human capital productivity, and influences asset prices. Using a … -- a higher medical innovation shock predicts a higher growth of hours worked and total factor productivity, and firms with …
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This study empirically explores the dynamic relation between the environmental and social (ES) performance of a firm and its stock market returns. We find robust evidence that worse stock market performance increases firms' efforts on ES activities. We show these patterns are present in firms...
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