We take up Cochrane's (2011) challenge to identify the firm characteristics that provide independent information about average U.S. monthly stock returns by simultaneously including 94 characteristics in Fama-MacBeth regressions that avoid overweighting microcaps and adjust for data snooping...

Corporate investment decisions require managers to forecast expected future cash flows from potential investments. Although these forecasts are a critical component of successful investing, they are not directly observable by external stakeholders. In this study, we investigate whether the...

This study speaks to investment academics and practitioners by describing and analyzing the population of return predictive signals (RPS) publicly identified during the period 1970-2010. Our supraview brings to light a number of new facts about the population of RPS, including that more than 330...