phenomena, attention is paid to the role of profitability as a driver of productivity and investment and global hegemony as a … driver of international resource transfers. Particular attention is paid to an empirical analysis of the profitability of the … US corporate non-financial sector and the existence of a secular decline in profitability since the mid-1960s interrupted …

effect on profitability and investment has not yet been assessed. In this paper, we investigate the pricing roles of these … two factors, using overlapping profitability and investment returns over horizons from 1 month to 5 years. Using different … particular, the profitability factor has significant pricing power in most horizons, while the investment factor is only priced …