We examine the corporate cost of capital and the return on corporate investment through 2005, which allows us to examine these values during the inflating and bursting of the tech bubble of the late 1990's. We examine the return on investment of tech and telecom firms separately over that time...

Adrian, Crump, and Vogt (2019) find that a nonlinear specification is required to identify a reliable relation between VIX and the equity premium. We reexamine this risk-return issue in a multi-risk framework with VIX and T-bond risk (MOVE). We find that: (1) the `MOVE-equity premium' relation...

Over 1960 to 2017, we show that a positive risk premium from holding high-beta stocks (versus low-beta stocks) and small-cap stocks (versus large-cap stocks) is reliably earned only after the expected stock-market volatility breaches an approximate top-quintile threshold. The high conditional...