in the future - covaries positively with corporate investment and aggregate consumption growth, and its innovations carry … when facing energy policy uncertainty. This uncertainty amplifies differences in investment between growth and value … aggregate market returns and consumption growth. Without an investment factor, uncertainty betas explain cross …

In a model of mutual fund investor learning about managerial ability, we investigate how investment decisions depend on …

The asset management industry has marketed for years this idea of "disciplined investing" through Systematic Investment … prudent investment strategy that reduces risk avoiding market timing. But this idea has many opponents, that strongly support …

making an investment decision. While learning from prices always improves investment efficiency, we identify a novel channel … by which it can reduce welfare. Namely, investment decisions change the stock’s exposure to underlying shocks and …, consequently, investors’ ability to hedge risk. We show that this is a robust feature of general investment decisions, and outline …

This paper deals with capital budgeting decisions under uncertainty. We present an Aggregate Return On Investment (AROI … constitutes a link between arbitrage choice theory and corporate investment theory, and shows that explicit discounting is not …

investment and expected returns. In imperfectly competitive industries, a firm's exposure to systematic risk is jointly affected … by its own investment strategy and the investment strategies of its industry peers, such that the dynamics of its …

discretionary as in dividends on stocks. Housing price uncertainty can affect household property investment, which in turn affects … rent. By extending the theory of investment under uncertainty, we model the renter's decision to buy a house and the …

This paper examines irreversible investment decisions when the interest rate is stochastic and constrained by a zero … investment and uncertainty, it is shown that the presence of a lower bound on interest rates induces an asymmetric effect of … interest rate uncertainty on investment decision. When the interest rate is low an increase in interest rate volatility …

production. Along with an increase in valuations, the model can generate a joint decline in investment, productivity, risk …