Results 41 to 50 of about 2,365,855 (190)
Earnings and Expected Returns [PDF]
The aggregate dividend payout ratio forecasts aggregate excess returns on both stocks and corporate bonds in post-war US data. Both high corporate profits and high stock prices forecast low excess returns on equities.
Owen Lamont
core
Asia‐Pacific Economic History Review, Volume 65, Issue 1, Page 131-159, March 2025.Abstract This study examines the adaptive market hypothesis in the prewar and wartime Japanese stock market using a new market capitalization‐weighted price index. First, we find that the degree of market efficiency varies over time and with major historical events. This implies that the hypothesis is supported in this market.
Kenichi Hirayama, Akihiko Noda
wiley +1 more source
Collusion through debt and managers
Canadian Journal of Economics/Revue canadienne d'économique, EarlyView.Abstract We investigate the anticompetitive effects of debt financing and managerial incentives in the presence of managers incurring personal bankruptcy costs. We characterize the strategic value for firms' shareholders of resorting to debt and managerial incentives as complementary devices to sustain collusion among firms, when managerial bankruptcy ...
Raffaele Fiocco +2 more
wiley +1 more source
Public economic gains from tax-financed investments in childhood immunization in the United States. [PDF]
PLOS Glob Public Health, 2023 Connolly MP +6 more
europepmc +1 more source
Risk, Mispricing, and Asset Allocation: Conditioning on Dividend Yield [PDF]
In the asset pricing literature, time-variation in market expected excess return captured by financial ratios like dividend yield is typically viewed as a reflection of either changing risk, related to the business cycle, or irrational mispricing ...
Jay Shanken, Ane Tamayo
core
The Economic History Review, EarlyView.Abstract During the global economic crisis of 1929–33, deposits in the Dutch commercial banking sector sharply declined as funds shifted to the government‐guaranteed Post Office Savings Bank and other savings institutions. Unlike earlier studies for neighbouring countries, we demonstrate that this shift was driven less by a flight to safety and more by
Ruben Peeters +1 more
wiley +1 more source
Bank capital buffer releases, public guarantee programs, and dividend bans in COVID-19 Europe: an appraisal. [PDF]
Eur J Law Econ, 2022 Matyunina A, Ongena S.
europepmc +1 more source
Managing agency business groups, elite directors, and the rubber boom, 1897–1913
The Economic History Review, EarlyView.Abstract We identify a new organizational form, the Managing Agency Business Group (MABG), demonstrating how agency houses used interlocking directorships to build groups on the basis of commercial and plantation expertise to access finance on London stock markets and local capital markets in the pre‐1914 rubber boom.
David Higgins, Steven Toms
wiley +1 more source
Stock Returns and Expected Business Conditions: Half a Century of Direct Evidence [PDF]
We explore the macro/finance interface in the context of equity markets. In particular, using half a century of Livingston expected business conditions data we characterize directly the impact of expected business conditions on expected excess stock ...
Sean D. Campbell, Francis X. Diebold
core +4 more sources
Deep treasury management for banks. [PDF]
Front Artif Intell, 2023 Englisch H +3 more
europepmc +1 more source