Existing literature documents that cross-sectional stock returns exhibit both price momentum and earnings momentum. In this paper, we examine whether commonly used style and sector indexes also have momentum patterns. We show that style indexes exhibit strong price momentum, but little evidence...

This paper measures the output and TFP costs of sovereign risk incorporating its impact on firm-level intangible investment. Combining Italian aggregate and firm-level data, we show that firms reduced their investment and reallocated resources away from intangible assets and towards tangible...