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Conditional Equity Premium and Aggregate Investment : Is the Stock Market a Sideshow?

Guo, Hui - 2017

We document a strong relation between aggregate corporate investment and direct stock market risk measures. Consistent … with the investment-based asset pricing model, the comovement with the proxies for conditional equity premium fully … accounts for aggregate investment's predictive power for future stock market returns. Similarly, conditional equity premium is …

Persistent link: https://www.econbiz.de/10012968442

Conditional Equity Premium and Aggregate Investment : Is the Stock Market a Sideshow?

Guo, Hui - 2017

Persistent link: https://www.econbiz.de/10012960222

Financial Intermediation, Investment Dynamics and Business Cycle Fluctuations

Ajello, Andrea - 2015

firms' investment is funded using financial markets. I then construct a dynamic equilibrium model that matches these … of financial assets, directing funds towards investment opportunities, and charge an intermediation spread to cover their … investment volatility …

Persistent link: https://www.econbiz.de/10013038047

Dividends as a Signalling Mechanism : The Case of Illiquid Stock Markets

Gonzalez, Maximiliano - 2011

Dividends payment is an important signalling device used by corporations. Through the dividend policy, firms can ‘separate' themselves and let the market, in an environment of asymmetric information, correctly assess their value. However, it is not clear that this mechanism is effective in...

Persistent link: https://www.econbiz.de/10013130483

Does Insider Trading Always Increase Financial Friction? A Model of Equity Market with Information Asymmetry

Jiang, Ying - 2017

This paper explores the interaction between insider trading and seasoned equity offering in the context of Myers and Majluf (1984). Private information conveyed through trading activities may mitigate information asymmetry and improve capital market efficiency. Moreover, an insider has less...

Persistent link: https://www.econbiz.de/10012946005

Is There a Banking Risk Premium in the US Stock Market?

Zeng, Liujing - 2010

This paper investigates whether there is a banking risk premium that helps explain the returns of US publicly listed firms. We assess this phenomenon in the context of the capital asset pricing model and the Fama and French three-factor model. We use bank size to create the banking factor – a...

Persistent link: https://www.econbiz.de/10013140135

Stock market's reactions to revelation of tax evasion : an empirical assessment

Brunhart, Andreas - 2012 - update

Additionally to the financial crisis causing a world recession, Liechtenstein’s financial sector has been challenged by the so-called "Zumwinkel-Affair" when a whistle-blower sold data of hundreds of tax evaders to international tax authorities. This paper investigates the impact of this...

Persistent link: https://www.econbiz.de/10010128449

The Theory of Unconventional Monetary Policy

Farmer, Roger E. A. - 2016

This paper is about the effectiveness of qualitative easing, a form of unconventional monetary policy that changes the risk composition of the central bank balance sheet with the goal of stabilizing economic activity. We construct a general equilibrium model where agents have rational...

Persistent link: https://www.econbiz.de/10012983744

Optimal investment and capital structure with stock market feedback

Machado, Caio; Pereira, Ana Elisa Gonçalves - 2019

Persistent link: https://www.econbiz.de/10012149876

Q-monetary transmission

Jeenas, Priit; Lagos, Ricardo - 2022

Persistent link: https://www.econbiz.de/10013365470