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This article examines the relationship between aggregate earnings and returns (ERC) in a global context. We examine a …, shareholder protection and legal origin. Recent literature finds a puzzlingly negative relationship between aggregate earnings and … puzzlingly negative relationship is not universal.The relationship between aggregate earnings and each return component (Campbell …
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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 …
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