Financially Constrained Stock Returns
收藏NBER2006-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w12555
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More financially constrained firms are riskier and earn higher expected returns than less financially constrained firms, although this effect can be subsumed by size and book-to-market. Further, because the stochastic discount factor makes capital investment more procyclical, financial constraints
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美国国家经济研究局创建时间：
2006-10-01
