A high growth rate in labor hours per worker signals low future stock market returns and high future hiring. In the presence of an increase in the number of labor hours per worker, hiring becomes less responsive to the future discount rate. The growth rate in the number of labor hours per worker...

We propose that innovative originality (InnOrig) is a valuable organizational resource, and that owing to limited investor attention and skepticism of complexity, firms with greater InnOrig are undervalued. We find that firms' InnOrig strongly predicts higher, more persistent, and less volatile...

These are the slides for the paper “Innovative Originality, Profitability, And Stock Returns.” The abstract of this paper is the following: We propose that innovative originality is a valuable organizational resource and that owing to limited investor attention and skepticism of complexity,...