Li, Hung-Chi; Lai, Syouching; Conover, James A.; Wu, … - In: Growing presence of real options in global financial markets, (pp. 123-158). 2017
Lai, Li, Conover, and Wu (2010) propose a four-factor financial distress model to explain stock returns in the U.S. and Japanese markets. We examine this model in the stock markets of Australia, and six Asian markets (Hong Kong, Indonesia, Korea, Malaysia, Singapore, and Thailand). We find broad...