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Equity Momentum : The Global Engine of Credit Rating Migration and Performance
Spielmann, Timo - 2020
Spillover effects from equity momentum to credit markets have been shown to lead to excessive premia and, simultaneously, reduced risk measures in credit securities. Here, we present an intuitive theory for this anomaly based on the premise that equity momentum drives leverage to invoke rating...
Persistent link: https://www.econbiz.de/10012848920
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International Price and Earnings Momentum
Lohre, Harald - 2012
In this paper, we find that price and earnings momentum are pervasive features of international equity markets even when controlling for data-snooping biases. For Europe, we show price momentum to be subsumed by earnings momentum on an aggregate level. However, this rationale can hardly be...
Persistent link: https://www.econbiz.de/10013100627
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The Role of Expectations in Value and Glamour Stock Returns
Institute, Brandes - 2015
When value and glamour stocks missed earnings expectation targets, what happened to their stock prices over the following year? Prices of value stocks increased when earnings expectations were beat and missed - and even when business fundamentals deteriorated. Glamour stocks behaved more...
Persistent link: https://www.econbiz.de/10013037751
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ESG or Profitability? What ESG Mutual Funds Really Care About Most
Fan, Yi; Gao, Yang - 2022
-off between profitability and sustainability preferences when investing in environmental, social and governance (ESG). We explore …
Persistent link: https://www.econbiz.de/10014235885
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Corporate Profitability and the Global Persistence of Corruption
Ferris, Stephen - 2020
inefficiency, we find that corruption enhances a firm's profitability. A channel analysis further reveals that inflating staff …
Persistent link: https://www.econbiz.de/10012829807
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The real versus the financial economy : a global tale of stability versus volatility
Alfarano, Simone; Förster, Niels; Milaković, Mishael; … - 2013
raise the question why capital would seek out financial investments in the first place. -- Profit rates ; growth rates of …
Persistent link: https://www.econbiz.de/10009692652
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The real versus the financial economy : a global tale of stability versus volatility
Mundt, Philipp; Förster, Niels; Alfarano, Simone; … - 2014
The question how the real and the financial side of a capitalist economy relate to each other has been a frequently recurring topic in the history of economic thought. Our paper addresses this question from the viewpoint that capital ultimately seeks returns from its perpetual reallocation and...
Persistent link: https://www.econbiz.de/10010336215
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Shipping Companies Profitability Measurement : A Panel Data Analysis
Thalassinos, Eleftherios Ioannis - 2015
This research examines the efficiency of shipping companies to create profit from the equity used in the investment …
Persistent link: https://www.econbiz.de/10013011642
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The Joint Distribution of Value and Profitability : International Evidence
Wahal, Sunil; Repetto, Eduardo - 2021
We examine the joint distribution of value and profitability in international markets. Over the 1990-2020 sample period …, portfolios formed at the intersection of value and profitability generate systematic return patterns: value and high-profitability … portfolios substantially outperform growth and low- profitability portfolios. The return differences are present in developed …
Persistent link: https://www.econbiz.de/10013252091
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Innovations and firm performance : a study of the global airline industry
Jayalakshmy Ramachandran; Rashid, Mamunur; Mohan Avvari V. - In: International journal of managerial and financial … 13 (2021) 3/4, pp. 317-336
Persistent link: https://www.econbiz.de/10013256709