Zobrazeno 1 - 10
of 18
pro vyhledávání: '"Vito D. Gala"'
Publikováno v:
Journal of Financial Economics. 143:619-639
What are the economic determinants of a firm’s market value? We answer this question through the lens of a generalized neoclassical model of investment with quasi-fixed labor and three heterogeneous capital inputs. We estimate the structural model
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::56f754b6ecd3a21946819fee07a230f3
https://doi.org/10.1016/j.jfineco.2021.08.007
https://doi.org/10.1016/j.jfineco.2021.08.007
Publikováno v:
Journal of Monetary Economics. 116:266-282
This paper proposes an alternative to standard investment-Q regressions. Policy functions summarize the key predictions of any dynamic investment model, are easy to estimate and, unlike Tobin’s Q, account for a large fraction of the variation in co
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::998043eba1aa45228c452cae3c9fc535
https://doi.org/10.1016/j.jmoneco.2019.10.014
https://doi.org/10.1016/j.jmoneco.2019.10.014
Autor:
Vito D. Gala
Publikováno v:
SSRN Electronic Journal.
Using asset prices I estimate the marginal value of capital in a dynamic stochastic economy under general assumptions about technology and preferences. The state-space measure of marginal q relies on the joint measurability of the value function, i.e
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::f2638a32b9a37e436482d32d2dac6ba6
https://doi.org/10.2139/ssrn.3559046
https://doi.org/10.2139/ssrn.3559046
Publikováno v:
SSRN Electronic Journal.
What are the economic determinants of a firm's market value? We answer this question through the lens of a generalized neoclassical model of investment with physical capital, quasi-fixed labor, and two types of intangible capital, knowledge and brand
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::4f17bf3991ce720755e27ff2d0438f79
https://doi.org/10.2139/ssrn.3104993
https://doi.org/10.2139/ssrn.3104993
Publikováno v:
SSRN Electronic Journal
Using novel measures of politics-policy uncertainty we document predictable variation in stock market returns across countries. Country characteristics and existing global and local risk factors do not account for such predictability, leading to larg
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::e0c3ec6b12f0a1d65b65b55d0a5343c3
Using a novel measure of industry exposure to government spending, we document predictable variation in cash flows and stock returns over political cycles. During Democratic presidencies, firms with high government exposure experience higher cash flo
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::ae5e66dd04796735574e78fc22423222
Publikováno v:
SSRN Electronic Journal.
In this paper we study the political and economic determinants of US states' choices of homestead exemptions. We develop a political economy model in which homestead exemptions are ex-post beneficial to borrowers who default (because they shield some
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::1196af4f20c4df855c00c0b683fdbea3
https://doi.org/10.2139/ssrn.2359591
https://doi.org/10.2139/ssrn.2359591
Autor:
Joao F. Gomes, Vito D. Gala
Publikováno v:
SSRN Electronic Journal.
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::f3161df78c3638e4ab6512cc0484db3e
https://doi.org/10.2139/ssrn.2032323
https://doi.org/10.2139/ssrn.2032323
Autor:
Marcel Prokopczuk, Ravindra Vadali Sastry, Stephan Siegel, Wayne E. Ferson, Nan Li, Chris Brooks, Vito D. Gala, Rajnish Mehra, Christopher A. Hennessy, Jeffrey Zwiebel, Chris Juilliard, Zhiyao Chen, Stefan Nagel, Ilya A. Strebulaev, Kathy Yuan, Andrea Gamba, Stavros Panageas, Michael S. Roberts
Publikováno v:
SSRN Electronic Journal.
We develop and test a parsimonious contingent claims model for cross-sectional returns of stock portfolios formed on market leverage, book-to-market equity, asset growth rate, and equity size. Since stocks are residual claims on firms' assets that ge
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::9c2613155a44046ef412745046a9cb93
https://doi.org/10.2139/ssrn.2018320
https://doi.org/10.2139/ssrn.2018320
Autor:
Vito D. Gala, João Gomes
Publikováno v:
SSRN Electronic Journal.
We estimate investment policy functions under general assumptions about technology and markets. Policy functions are easy to estimate and summarize the key predictions of any dynamic investment model. Because our method does not rely on Tobin's Q, it
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::d17b104c43f060655ea7b267da66d3de
https://doi.org/10.2139/ssrn.2024716
https://doi.org/10.2139/ssrn.2024716