We provide a systematic analysis of the properties of individual returns to wealth using twelve years of population data from Norway's administrative tax records. We document a number of novel results. First, individuals earn markedly different average returns on their net worth (a standard...

We find that inter-firm human capital migration network centrality (HCMNC) is a strong positive predictor of future stock returns after controlling for firm characteristics and risk. We construct the human capital migration network using publicly available data from LinkedIn. A long-short...

I show that firms' access to skilled immigrant labor is an important determinant of the cross-section of equity returns. Using a comprehensive set of data on H-1B visa petitions, I construct an occupation-level measure of labor market competition between skilled immigrant and local workers. I...