نتایج جستجو برای: profits
تعداد نتایج: 10724 فیلتر نتایج به سال:
2010
Laura Xiaolei Liu
Lu Zhang
We offer an investment-based explanation of momentum. The neoclassical theory of investment implies that expected stock returns are related to expected investment returns, defined as the next-period marginal benefits of investment divided by the current-period marginal costs of investment. Empirically, winners have higher expected growth of investment-to-capital and higher expected marginal pro...
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