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Untangling the Value Premium with Labor Shares

Donangelo, Andrés - 2020

premium and from the value spread and from the variation in profitability levels and growth. My extended decomposition shows … that labor leverage explains approximately 50% of the value premium whereas profitability and growth based mechanisms … explains this finding, as well as the relation between book-to-market ratios, discount rates, profitability, and future growth …

Persistent link: https://www.econbiz.de/10012853454

Book-to-Market Equity, Financial Leverage and the Cross-Section of Stock Returns

Obreja, Iulian - 2010

I propose a neoclassical production economy with costly external financing, partial investment irreversibility, and endogenous investment/financing decisions to rationalize and quantify the well-documented interaction between the book-to-market equity effect and the financial leverage effect in...

Persistent link: https://www.econbiz.de/10013137473

Government guarantees and the valuation of American banks

Atkeson, Andrew; Avernas, Adrien d'; Eisfeldt, Andrea L.; … - In: NBER macroeconomics annual 33 (2018), pp. 81-145

Persistent link: https://www.econbiz.de/10012321704

Government guarantees and the valuation of American banks

Atkeson, Andrew; Avernas, Adrien d'; Eisfeldt, Andrea L.; … - 2018

Persistent link: https://www.econbiz.de/10011888409

Inter- and intra-leverage analyses for large firms in the United States and Korea

Kim, Hanjoon - In: Journal of Asia Pacific business 10 (2009) 1, pp. 34-64

Persistent link: https://www.econbiz.de/10003830143

Asymmetries in the firm's use of debt to changing market values

Ferris, Stephen P.; Hanousek, Jan; Shamshur, Anastasiya; … - In: The journal of corporate finance : contracting, … 48 (2018), pp. 542-555

Persistent link: https://www.econbiz.de/10011806112

Asymmetries in the firm's use of debt to changing market values

Ferris, Stephen P.; Hanousek, Jan; Shamshur, Anastasiya; … - 2017

Persistent link: https://www.econbiz.de/10011723062

Asymmetries in the firm's use of debt to changing market values

Ferris, Stephen P.; Hanousek, Jan; Shamshur, Anastasiya; … - 2017

Persistent link: https://www.econbiz.de/10011708514

The speed of adjustment to the target market value leverage is slower than you think

Yin, Qie; Ritter, Jay - In: Journal of financial and quantitative analysis : JFQA 55 (2020) 6, pp. 1946-1977

Persistent link: https://www.econbiz.de/10012307551

Measuring Operating Leverage

Chen, Huafeng (Jason) - 2020

profitability effect, and is not explained by organization capital. Furthermore, a simple two-factor model with the operating …

Persistent link: https://www.econbiz.de/10012852541

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