firm characteristics - Tobin's Q, past investment, earnings-price ratios, market betas, and idiosyncratic volatility of … CAPM to price portfolio returns of firms sorted on characteristics; iv) the time-series predictability of market portfolio … returns by aggregate investment and valuation ratios; and v) a downward sloping term structure of risk premia for dividend …

firm characteristics - Tobin's Q, past investment, earnings-price ratios, market betas, and idiosyncratic volatility of … CAPM to price portfolio returns of firms sorted on characteristics; iv) the time-series predictability of market portfolio … returns by aggregate investment and valuation ratios; and v) a downward sloping term structure of risk premia for dividend …

' capital investment decisions. The efficiency of stock prices is determined by the weight firms attach to private information … and by the extent to which investment is predictable. Both factors attract informed trading and lead to more revealing …

this theory have not yet been directly tested. I investigate the relationship between derivative cash flows and investment …A crucial argument for motivating hedging is that it supports corporate investment when internal cash flows are … using hand-collected data from the oil and gas industry between 2000 and 2015. The data supports the theory. On average …

(3) active trading by common owners. Further, we find that the investment sensitivity to Tobin’s Q for commonly held …