A Theory of Firm Characteristics and Stock Returns: The Role of Investment-Specific Shocks
收藏NBER2012-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w17975
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资源简介：
We provide a theoretical model linking firm characteristics and expected returns. The key ingredient of our model is technological shocks embodied in new capital (IST shocks), which affect the profitability of new investments. Firms' exposure to IST shocks is endogenously determined by the fraction
提供机构：
美国国家经济研究局
创建时间：
2012-04-01
