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Current R&D expenditures forecast cash-based operating profitability up to three years in the future and sometimes as … profitability factor, and zero alphas. Capitalizing R&D to augment book values with intangible assets is unnecessary for asset … pricing, so long as expected profitability is explicitly recognized as a determinant of expected returns …
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estimated. Using the full rainfall distribution and our profit function estimates, we find that Indian farmers on average under … expected profits. Farmers who use skilled forecasts have increased average profit levels but also have more variable profits …
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The purpose of this paper is to examine whether earnings quality contributes to the book-to- market's predictive power in the cross section of stock returns. Earnings quality is embedded in the value-growth effect given that retained earnings is a key part of the book value of equity. Earnings...
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This study investigates how returns on the S&P 500 (SP) dynamically respond to the aggregate corporate profit growth …
Persistent link: https://www.econbiz.de/10013078332
. The growth rate in the number of labor hours per worker does not appear to be related to future profitability …
Persistent link: https://www.econbiz.de/10013003352
Capital costs are not directly observed since most firms own part of their capital stock. I show how cross-sectional variation in firms' input choices reveals the user cost of capital. Estimating the model using Compustat data, I find that capital costs as a share of output have been declining....
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This study examines the determinants of profitability using the US Compustat database during the period 1976-2009. The …. Besides the conventional drivers of profitability a relatedness measure of technology based on patents is explored too, in … business lines and production chains. The drivers of profitability in lags are examined in order to account for their …
Persistent link: https://www.econbiz.de/10012856216