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Equity Returns, Unemployment, and Monetary Policy

Li, Yijie; Suominen, Matti - 2020

We investigate both theoretically and empirically how unemployment level and its growth affect future stock returns. We … find that both a higher unemployment rate and higher growth of unemployment positively predict future stock market returns … reinforce each other making stock returns exceptionally high in periods of high unemployment and high unemployment growth. Our …

Persistent link: https://www.econbiz.de/10014352081

The impact of investor sentiment on the German stock market

Finter, Philipp; Niessen-Ruenzi, Alexandra; Ruenzi, Stefan - 2011 - First Version: December 2008, This Version: October 2011

This paper develops a broad-based sentiment indicator for Germany and investigates whether investor sentiment can explain stock returns on the German stock market. Based on a principal component analysis, we construct a sentiment indicator that condenses information of several well-known...

Persistent link: https://www.econbiz.de/10009705481

The Impact of Investor Sentiment on the German Stock Market

Finter, Philipp - 2010

This paper investigates whether investor sentiment can explain stock returns on the German stock market. Based on a principal component analysis, we construct a sentiment indicator that condenses information of several well-known sentiment proxies. We show that this indicator explains the return...

Persistent link: https://www.econbiz.de/10013139805

Forecasting Stock Returns : Does Switching Between Models Help?

McMillan, David G. - 2009

Research examining the usefulness of non-linear models for stock market returns has almost reached an impasse. While there is general recognition of the superior ability of non-linear models to describe the data, there is less certainty about their ability to forecast the data. As such simple...

Persistent link: https://www.econbiz.de/10013158958

Dividend Yields, Dividend Growth, and Return Predictability in the Cross-Section of Stocks

Maio, Paulo F. - 2015

There is a generalized conviction that variation in dividend yields is exclusively related to expected returns and not to expected dividend growth - e.g. Cochrane's presidential address (Cochrane (2011)). We show that this pattern, although valid for the aggregate stock market, is not true for...

Persistent link: https://www.econbiz.de/10013036406

Generalized Fama proxy hypothesis : impact of shocks on Phillips curve and relation of stock returns with inflation

Kryzanowski, Lawrence; Rahman, Abdul H. - In: Economics letters 103 (2009) 3, pp. 135-137

Persistent link: https://www.econbiz.de/10003854891

Misery on Main Street, victory on Wall Street : economic discomfort and the cross-section of global stock returns

Cakici, Nusret; Zaremba, Adam - In: Journal of banking & finance 149 (2023), pp. 1-21

Persistent link: https://www.econbiz.de/10014462426

Consumer Negative Voice and Firm-Idiosyncratic Stock Returns

Luo, Xueming - 2014

Prior research has largely focused on the positive side of customer experience, such as satisfaction. In contrast, this study investigates the negative side of customer experience and tests the harmful impact of consumer negative voice on firms' stock returns. Based on a longitudinal real-world...

Persistent link: https://www.econbiz.de/10013064000

Product Competitiveness and Beating Analyst Earnings Target

Luo, Xueming - 2014

While Wall Street closely watches financial analysts' earnings forecasts, Main Street often scrutinizes product quality relative to competition. Do firms with superior product competitiveness enjoy greater likelihood of beating analyst earnings target? And if so, is there contingency in this...

Persistent link: https://www.econbiz.de/10013064014

Does Advertising Spending Really Work? The Intermediate Role of Analysts in the Impact of Advertising on Firm Value

Luo, Xueming - 2014

Both managers and investors are increasingly concerned with the impact of advertising spending on shareholder returns. This study investigates the analyst-based processes by which advertising may create firm value. Using a large longitudinal dataset with 1,052 firms over 20 years, we find that...

Persistent link: https://www.econbiz.de/10013064016

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