We document a strong relation between aggregate corporate investment and direct stock market risk measures. Consistent … with the investment-based asset pricing model, the comovement with the proxies for conditional equity premium fully … accounts for aggregate investment's predictive power for future stock market returns. Similarly, conditional equity premium is …

between firms' book-to-market ratio and investment irreversibility. They argue that unproductive physical capacity is costly … between firms' investment in tangible assets and market-wide returns. This paper uses the Australian accounting environment to … empirically test this theory – a test that is not possible using US data. Consistent with the theoretical argument, tangibility is …

In this paper, we propose several regression asset pricing techniques. Applications in investment are studied and our …

We document a strong relation between aggregate corporate investment and direct stock market risk measures. Consistent … with the investment-based asset pricing model, the comovement with the proxies for conditional equity premium fully … accounts for aggregate investment's predictive power for future stock market returns. Similarly, conditional equity premium is …

with frictions in the adjustment of both capital and labor. We posit that hiring of labor is akin to investment in capital ….S. corporate sector data to estimate firms' optimal hiring and investment decisions and the consequences for firms' value. We then … investment and physical capital. We find that a conventional specification - quadratic adjustment costs for capital and no hiring …