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Does Profitability Really Matter? Marginality, Volatility & $ Trillion Question

Muthusamy, Senthil Kumar - 2020

Firm Profitability - Does it really matter for shareholder return or ROE (return on equity)? Does this question sound oxymoron and antithetic? Not really. On the contrary, evidence has surfaced that Returns on equity - based on the shareholders' equity accounted in the balance sheet - is not...

Persistent link: https://www.econbiz.de/10012841357

Speculative Growth, Overreaction, and the Welfare Cost of Technology-Driven Bubbles

Lansing, Kevin J. - 2013

This paper develops a general equilibrium model to examine the quantitative effects of speculative bubbles on capital accumulation, growth, and welfare. A near-rational bubble component in the model equity price generates excess volatility in response to observed technology shocks. In...

Persistent link: https://www.econbiz.de/10013087553

When and Why Do Stock and Bond Markets Predict Economic Growth?

McMillan, David G. - 2019

We consider whether key financial variables predict macroeconomic series and if any predictive power for output growth is also seen in consumption or investment growth. Such information will allow the use of financial markets as a leading indicator for macroeconomic performance. Full sample...

Persistent link: https://www.econbiz.de/10012860534

The Boasting Effect : How Interpersonal Utility Affects Stock Prices

Hammerich, Ulrich - 2015

chasing nonfinancial goals apart from generating profit under risk that can be ascribed neither to findings of behavioral … finance nor to traditional economical theories? Inspired by rational choice theory, this paper tries to explore this largely … excess nonfinancial utility/value by boasting about being a shareholder of these stocks and making profit with them, compared …

Persistent link: https://www.econbiz.de/10013021105

Equity Valuation Cannot Outgrow the Economy Over the Long Run

Han, JC - 2016

Macroeconomic Theory and historical evidence suggest that bond prices help cause long-run convergence between stock …

Persistent link: https://www.econbiz.de/10012991589

End-of-the-year economic growth and time-varying expected returns : a reexamination

Hsiao(Xiao), Shisong - 2021

Møller and Rangvid (2015) report that economic growth at the end of the year is a strong predictor of future stock returns for the post-WWII period, whereas economic growth during the rest of the year does not. Revisiting these results with an extended period 1926-2020, we find that this...

Persistent link: https://www.econbiz.de/10013323390

Expecting a Stock Market Miracle

Kaustia, Markku - 2016

We develop two new methods for calibrating subjective expectations regarding the return generating process (RGP) of financial assets without resorting to noisy realized returns. Using finance professionals' expectations of average and extreme returns, volatilities, and probabilities of stocks...

Persistent link: https://www.econbiz.de/10012995634

Are PE- and MB-ratios susceptible to accruals, growth, or profitability?

Stähle, Martin; Lampenius, Niklas - 2010

Price Earnings- and Market Book-ratios presume a systematic link between financial statement data and company value. We analyze this relationship in a steady state model with overlapping capacity investments where company value is inferred from a constant growth residual income model. We...

Persistent link: https://www.econbiz.de/10012822368

Predicting long-term earnings growth from multiple information sourcesOriginal

Gao, Zhan; Wu, Wan-Ting - In: International review of financial analysis 32 (2014), pp. 71-84

Persistent link: https://www.econbiz.de/10010461321

Economic growth, corporate earnings and equity returns : evidence from Central and Eastern European countries

Gajdka, Jerzy; Pietraszewski, Piotr - In: Comparative economic research : Central and Eastern Europe 19 (2016) 3, pp. 93-112

Persistent link: https://www.econbiz.de/10011631322

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