Investment and The Cross-Section of Equity Returns
收藏NBER2015-04-01 更新2025-01-04 收录
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https://www.nber.org/papers/w21064
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We confront the one-factor production-based asset pricing model with the evidence on firm-level investment, to uncover that it produces implications for the dynamics of capital that are seriously at odds with the evidence. The data shows that, upon being hit by adverse profitability shocks, large
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美国国家经济研究局创建时间：
2015-04-01
