We develop a firm valuation model with repeated expansion and contraction options to show operating profitability is a … as profitability falls, lowering the firm beta. Consistent with the predictions, operating profitability relates … losers with diverging operating profitability. Corroborating a risk-based explanation, the momentum results remain …

enhanced in a way that not only survives common risk adjustments but also maintains profitability after trading costs. For our …

This study shows that the recent trajectory of a firm's profits predicts future profitability and stock returns. The … predictive information contained in the trend of profitability is not subsumed by the level of profitability, earnings momentum …, or other well-known determinants of stock returns. The profit trend also predicts the earnings surprise one quarter later …

This paper examines the profitability of momentum strategies within the Malaysian stock market. Its also investigates …

profitability of the strategies has significantly decreased recently, driven particularly by the disappearance of value and reversal …

We provide a new explanation for the profitability anomaly along with a battery of supportive empirical tests. Our … profitability and future stock returns, and the relation is stronger in firms with higher growth. The relation arises because less …

the ROE can be improved?6. The ROE depends on net profit margin, turnover of CE and financial leverage. When financial … Economic Profit (EP) and the Economic Value Added (EVA). What is the EP and what does it indicate? What is EVA an what does it …