We apply panel estimation techniques to full population of Austrian corporations from 2007-2020 in order to analyze the impact of ownership concentration on performance. Return on investment (ROI) is lower than cost of capital, which insinuates that managers invest beyond optimal investment...

This paper re-examines the relationship between global Gross Domestic Product (GDP), Primary Energy Use (PEU) and Economic Energy Efficiency (EEE) to explore how investment in energy efficiency causes rebound in energy use. Assuming GDP is a measure of final useful work, we construct and fit a...

The use of technologies that automate handling goods and loading units in warehouses and depots is not new. Yet, the purchase process of these technologies issues troubles and the estimation of the economic advantages brought by one or another technology to the entire chain of operations in...

Public sector organizations must avoid expensive, inefficient cost or schedule variances that exhaust the resources of a project, and in response many deploy digital initiatives without clear, direct evidence of a quantifiable return on investment. This investigation determined if digital...

The attraction to Return on Invested Capital (ROIC) as a performance measure for executive incentive plans is both push and pull in nature. The push by investors has increased awareness among corporate boards and senior leadership, with more and more companies implementing the ROIC financial...

In this paper, we study the return on investments in mining for a whole century, starting in the "Golden Age" of resource exploitation in the late nineteenth century. We use a sample of more than 1,000 mining companies, registered on the London Stock Exchange 1869- 1969, but operating on all...

In this paper we re-examine the relationship between Gross Domestic Product (GDP), Primary Energy Use (PEU) and Economic Energy Efficiency (EEE) to explore how investment is used to develop either primary energy use or the efficiency of that use. We fit this model to global GDP, PEU and EEE data...

This is an empirical study based on a large-scale database of North American and Global organizations. The is the first study that has included more than 70,000 and 1,00,000 observations from North American and global firms to measure the impacts of financial leverage and return on investment...

This is an empirical study based on a large-scale database of North American and Global organizations. The is the first study that has included more than 70,000 and 1,00,000 observations from North American and Global firms respectively to measure the impacts of financial leverage and return on...

Facebook ads are widely used by companies around the world who spend significant budget on this promotional tool. We focus in this research on financial returns of Facebook ads designed towards reaching sales (conversions), particularly short-term profitability. The aim of this research is to...

We provide generalizable and robust results on the causal sales effect of TV advertising for a large number of products in many categories. Such generalizable results provide a prior distribution that can improve the advertising decisions made by firms and the analysis and recommendations of...

In this paper, we study the return on investments in mining for a whole century, starting in the "Golden Age" of resource exploitation in the late nineteenth century. We use a sample of more than 1,000 mining companies, registered on the London Stock Exchange 1869- 1969, but operating on all...

Purpose of the article: Cyber security has become a key factor in determining the success or failure of companies that rely on information systems. However, this entails considerable investment. Typical investments in information technology aim to create value, while investments in cyber...

We review the burgeoning sustainable finance literature, emphasizing the value implications of ESG (environmental, social, and governance) and CSR (corporate social responsibility) practices. We use a discounted cash flow valuation framework to identify value drivers through which such practices...

Investment in intangible capital—in particular, research and development—increased dramatically since the 1990s. However, productivity growth remains sluggish in recent years. One potential reason is that a significant share of the increase in intangible investment is geared toward consumer...

Machine learning methods in asset pricing are often criticized for their black box nature. We study this issue by predicting corporate bond returns using interpretable machine learning on a high-dimensional bond characteristics dataset. We achieve state-of-the-art performance while maintaining...

Chapter 1: The Boglehead, aka the Passive Indexer -- Chapter 2: The Factor Investor, aka The “Tilter” -- Chapter 3: The Business Owner -- Chapter 4: The Landlord.-Chapter 5: The Dividend Investor -- Chapter 6: The Value Investor -- Chapter 7: The Special Situations Specialist -- Chapter 8:...

We study the distributional effects of asset returns using a heterogeneous-agent model estimated to match the joint distribution of wealth and returns. In the model, endogenous portfolio decisions play a key role through their impact on households' wealth accumulation. We find substantial...