摘要 : We find that abnormal fourth-quarter capital expenditures are negatively correlated with future stock returns. While this evidence is linked to the asset growth factor, it cannot be entirely attributed to it. The fact that the rel... 展开
作者 | Altieri~ Michela Schnitzler~ Jan |
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作者单位 | |
期刊名称 | 《Journal of Financial Markets》 |
页码/总页数 | 1.1-1.17 / 17 |
语种 | 英语 |
关键词 | Investment-based asset pricing Capital expenditures Investment anomaly Agency costs |
DOI | 10.1016/j.finmar.2023.100835 |
馆藏号 | F-501 |