Demographics and Industry Returns
نویسندگان
چکیده
Do demographic patterns affect stock returns across industries? While there is a substantial literature on the impact of demographic fluctuations on aggregate stock returns (Gurdip S. Bakshi and Zhiwu Chen 1994; James M. Poterba 2001; Andrew B. Abel 2003; John Geanakoplos, Michael J. P. Magill, and Martine Quinzii 2004; Andrew Ang and Angela Maddaloni 2005), there is little evidence on the effect of demographics on cross-sectional returns. In this paper, we investigate this relationship. We analyze the impact of shifts in cohort sizes Demographics and Industry Returns
منابع مشابه
An input-oriented radial measure for returns to scale aggregation.
In production theory, it is necessary to be capable of predicting the production func- tion’s long-run behaviors. Hereof, returns to scale is a helpful concept. Returns to scale describes the reaction of a production function to the proportionally scaling all its input variables. In this regard, Data envelopment analysis (DEA) provides a com- prehensive framework for returns to scale evaluation...
متن کاملImpact of Buyback Announcement on Share Price: A Company and Industry Wise Analysis
The study attempts to find out the impact of buyback announcement on share price. Paired sample T-test is employed to compare share price before and after the buyback announcement. The analysis of variance is also used to find out whether there is any significant difference among industries in the price change due to buyback announcement. The study is carried out from 1st January 2005 to 31st D...
متن کاملBEEF SPECIES SYMPOSIUM: Economic considerations related to U.S. beef herd expansion.
Significant attention perpetually surrounds possible changes in breeding herd inventories in the U.S. beef cattle industry. This article outlines economic considerations of U.S. herd expansion. Factors restricting expansion include land availability, increasing production efficiency, operator demographics, capital requirements, and commodity price volatility. Several offsetting factors support ...
متن کاملIndustry Affects Do Not Explain Momentum in Canadian Stock Returns
Similar to previous Canadian, US, and international studies, we find evidence of momentum in stock returns, using a Canadian sample over the 1981 to 1999 period. However, unlike recent US evidence provided by Moscowitz and Grinblatt (1999), we cannot attribute the majority of the excess returns produced by a stock momentum strategy to industry momentum. While we do find evidence that industry m...
متن کاملImpact of the Selected Domestic and Foreign Markets Returns on Stock Price in Iran
One of the features of a financial market, the stock market, in particular, is the market sentiment which is the overall attitude of investors toward a particular security or financial market. Investors always seek to create a portfolio with minimum risk while maintaining the expected return level. Therefore, perceiving the relationship between the stock returns and markets returns can be helpf...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2008