class (weighted by book values) captures the project's economic profitability. Such a rate of return spans a space of …

This paper studies quantitative macro-finance model and describes Investment and Profits surface-like risk waves. We … cause disturbances of macro financial variables, for instance - Investment and Profits. Such disturbances can generate … domain and impact financial sustainability. We study simple model relations between Investment and Profits and describe …

the four HXZ factors, namely size, profitability, and investment, cannot be explained by the five FF factors; (4) the best … as follows: (1) neither the FF investment factor nor the HXZ investment factor earns a significant return in the Chinese … profitability factor; (5) the maximum Sharpe ratio is achieved by investing about 5% in the market factor, 20% in the value factor …