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Using monthly and quarterly cross-sectional dispersion in firm level earnings news as a proxy for investor uncertainty about the implications of current aggregate earnings for future discount rates, I find that higher investor uncertainty leads to a lower stock market reaction to aggregate...
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The literature on ‘cash flow' or ‘earnings' beta is theoretically well-motivated in its use of fundamentals, instead of returns, to measure systematic risk. However, empirical measures of earnings beta based on either log-linearizing the return equation or log-linearizing the clean-surplus...
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policy. Most research treating the impact of immigration has focused on the consequences for employees as measured by wages …The paper links finance theory to labor economics and political economy in the context of migration and immigration …) profits as a result of immigration. Using event study analysis, I measure the impact of immigration policy on the profit of …
Persistent link: https://www.econbiz.de/10009308050
policy. Most research treating the impact of immigration has focused on the consequences for employees as measured by wages …The paper links finance theory to labor economics and political economy in the context of migration and immigration …) profits as a result of immigration. Using event study analysis, I measure the impact of immigration policy on the profit of …
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