This paper analyses risk premiums and risk-adjusted excess returns of a portfolio of firms with low employee turnover from 2006 to 2011. The results show that average risk premiums of an equal-weighted portfolio of firms with low employee turnover are economically superior than the CRSP...

This paper provides empirical evidence of how financial stress mediates the effect of the demand side's confidence on the supply side's confidence in the United States. Using monthly data from 1994:M2 to 2012:M5, the time-series regression analyses show that changes in the demand side's...

This study is to assess the dynamics effects of business confidence and consumer confidence on stock market risk premiums and to determine the relative importance of business confidence and consumer confidence in forecasting the variability of stock market risk premiums though a variance...