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The risk premiums on real estate investment trusts (REITs) have exceeded and remained higher than those of stocks since the financial crisis of 2007--2008. In this paper, we investigate the reason why. Using the Campbell-Shiller beta decomposition, we find that REIT returns are more sensitive to...
Persistent link: https://www.econbiz.de/10014257982
Panel data show that between 2001 and 2014 Norwegian industries' increasing aggregated operating profits per employee increased average wages and wage inequality. The data imply that increasing profits, perhaps unsurprisingly, induce a wage premium. The data further imply that employees earning...
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this question empirically is to decompose the variance in firm-level profitability into firm, industry, location, and year … have examined the nature of differences in firm profitability. We conduct a meta-regression and variance decomposition …
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In this paper we present estimates of the world profit rate using country-level data from the Extended Penn World Table … 7.0 and industry-level data from the World Input Output Database. The country-aggregated world profit rate series spans … the period from 1960 to 2019, and the industry-aggregated world profit rate series runs from 2000 to 2014. The country …
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delta-hedged calls are negatively correlated with current stock price, firm profit margin and profitability, but positively …We uncover new return predictability in the cross-section of delta-hedged equity options. Expected returns of writing … have little explanatory power. We examine the economic channels underlying option return predictability …
Persistent link: https://www.econbiz.de/10012855854