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External Growth and the Cross Section of Stock Returns

Li, Hongtao - 2017

Prior research finds expected returns decrease in firm-level total asset growth. This study shows that external growth, measured as asset growth raised from capital markets, has stronger power than total asset growth predicting the cross section of average returns. External growth subsumes the...

Persistent link: https://www.econbiz.de/10012970654

Expected Investment Growth and the Cross Section of Stock Returns

Li, Jun - 2018

distress risk, especially at short-run horizons up to one year. Detailed comparisons with traditional distress risk measures …

Persistent link: https://www.econbiz.de/10012935108

Implied Growth Horizons and the Cost of Equity

Mangelmans, Job - 2016

We introduce a straightforward method to estimate the implied cost of equity, allowing growth horizons to fluctuate both cross-sectionally and through time. Our results show substantial dispersion of implied growth horizons in cross-sections and time-series for US firms in the years 1988-2013....

Persistent link: https://www.econbiz.de/10012992949

Which is better : value strategy or growth strategy?

Park, Keehwan; Jung, Mookwon; Fang, Zhongzheng - In: Global business and finance review 27 (2022) 1, pp. 83-94

and risk in a unifying framework to explain the value and growth spread in the stock market. The conditional CAPM is a … equation, this paper derives the relationship among return, profit growth, and risk. We use three different risk metrics … proposed by Park and Fang (2021). We regress the value minus growth return on profit growth and risk variables to determine …

Persistent link: https://www.econbiz.de/10013197422

Separating the Impact of Power Sector in the Energy-Growth Nexus : An ARDL-ECM Approach

Chauhan, Saakshi; Swarnakar, Pradip; Mukherjee, Deep - 2023

This study differentiates between the impacts of primary energy consumed and energy consumed in the power sector, on overall economic growth, to efficiently target the energy conservation policies. We employed Autoregressive Distributed Lag modeling to test the presence of a long run...

Persistent link: https://www.econbiz.de/10014346816

Using Sentiment Surveys to Predict GDP Growth and Stock Returns

Guzman, Giselle - 2012

This study sheds new light on the question of whether or not sentiment surveys, and the expectations derived from them, are relevant to forecasting economic growth and stock returns, and whether they contain information that is orthogonal to macroeconomic and financial data. I examine 16...

Persistent link: https://www.econbiz.de/10013110732

Chapter 8. Energy, the Environment and US Economic Growth

Jorgenson, Dale W.; Goettle, Richard J.; Ho, Mun S.; … - In: Handbook of computable general equilibrium modeling : …, (pp. 477-552). 2013

The point of departure for the study of the impact of energy and environmental policies is the neoclassical theory of …

Persistent link: https://www.econbiz.de/10014025283

Essays on network industries : privatization, regulation, and productivity measurement

Kuhlmann, Andreas - 2007

This study was prepared by Andreas Kuhlmann, while he was working with the Ifo Institute for Economic Research. It was completed in September 2006 and was accepted as a Ph.D. thesis by the Economics Department of the University of Munich. The subject of this study is the analysis of network...

Persistent link: https://www.econbiz.de/10011747619

Quantifying and Explaining Parameter Heterogeneity in the Capital Regulation-Bank Risk Nexus

Delis, Manthos D. - 2012

By examining the impact of capital regulation on bank risk-taking using a local estimation technique, we are able to …. The findings suggest that the impact of capital regulation on bank risk is very heterogeneous across banks and the sources … focus on the restraint of excess risk-taking by banks …

Persistent link: https://www.econbiz.de/10013117037

Aggregate Expected Investment Growth and Stock Market Returns

Li, Jun - 2018

-varying risk premium than by behavioral biases such as extrapolative expectations …

Persistent link: https://www.econbiz.de/10012917305