Zobrazeno 1 - 6
of 6
pro vyhledávání: '"Chi-Yang Tsou"'
Publikováno v:
Li, K, Tsou, C-Y & Xu, C 2023, ' Learning and the Capital Age Premium ', Journal of Monetary Economics, vol. 136, pp. 76-90 . https://doi.org/10.1016/j.jmoneco.2023.02.001
Imperfect information and learning are introduced into a production-based asset pricing model. Our model features slow learning about firms’ exposure to aggregate productivity shocks over time. In contrast to a full information case, our framework
Publikováno v:
Li, K, Hsu, P-H & Tsou, C-Y 2023, ' The Pollution Premium ', Journal of Finance, vol. 78, no. 3, pp. 1343-1392 . https://doi.org/10.1111/jofi.13217
This paper studies the asset pricing implications of industrial pollution. A long-short portfolio constructed from firms with high versus low toxic emission intensity within a given industry generates an average return of 4.42% per annum, which remai
Publikováno v:
SSRN Electronic Journal.
Autor:
Chi-Yang Tsou
Publikováno v:
Academy of Management Proceedings. 2022
Autor:
Kai Li, Chi-Yang Tsou
Publikováno v:
SSRN Electronic Journal.
This paper argues leasing is a risk-sharing mechanism: risk-tolerant lessors (capital owners) provide insurance to financially constrained risk-averse lessees (capital borrowers) against systematic capital price fluctuations. We provide strong empiri