WebAs financial information is crucial for sustainable and steady economic growth, our research not only helps to reveal how the financial market promotes economic growth but also helps to provide new ideas for managers and policy-makers to alleviate operating pressure and financing constraints. Suggested Citation WebMarket return predictability may be driven by time varying discount rates or changing beliefs of cash flow. We use analyst earnings forecast to separate cash flow and discount rate components of returns and distinguish the source of return predictability by a set of predictive variables commonly used in the literature. The overall evidence is consistent …

Frontiers Corporate financialization, financing constraints, and ...

WebUsing volatile and correlated liquidity shocks to investors as a source of noise trading, it is shown that noise in stock prices impedes real efficiency. Using volatile and correlated … WebDo Noisy Stock Prices Impede Real Efficiency? Management Science, 2024, 66(12), 5990-6014. 6. Geographic Clustering of Corruption in the U.S. (with Nishant Dass and … ai fine-tuning

Noise - Investopedia

WebJun 1, 2024 · Further evidence suggests that noise in stock prices impedes real efficiency through three plausible channels: distorting firms' investment decisions through misleading price signals, increasing the cost of capital, and reducing the efficacy of equity-based incentive contracts. WebCorporate Finance; Household Finance; Real Estate. PUBLICATIONS 1. Culture and R2 (with Cheol S. Eun and Lingling Wang), Journal of Financial Economics, 115 (2), February 2015, 283–303. ... Do Noisy Stock Prices Impede Real Efficiency? Management Science, 2024, 66(12), 5990-6014. 6. Geographic Clustering of Corruption in the U.S. (with ... WebJun 9, 2024 · Using volatile and correlated liquidity shocks to investors as a source of noise trading, I show that noise in stock prices impedes real efficiency. A one-standard … ai fini del limite di € 2. 840 51 rileva