Showing 1 - 6 of 6
Persistent link: https://www.econbiz.de/10003484942
Persistent link: https://www.econbiz.de/10009525336
Persistent link: https://www.econbiz.de/10009297051
Persistent link: https://www.econbiz.de/10012212919
This study provides theory and evidence to demonstrate how relative firm profitability within an industry affects stock return sensitivity to industry-level news. Extending the Cournot and Bertrand competition models, we predict that (1) the returns of less profitable firms in an industry are...
Persistent link: https://www.econbiz.de/10013128314
Using Zhang (2000) as the theoretical basis, we predict and empirically test the effect of investment growth on the relation between equity value and accounting variables. We find that (i) growth increases the slope in the value-earnings relation for high-profitability firms (consistent with...
Persistent link: https://www.econbiz.de/10013115038