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- 31 Mar 2018
- Working Paper Summaries
Expected Stock Returns Worldwide: A Log-Linear Present-Value Approach
- 07 Aug 2017
- Working Paper Summaries
Governance Through Shame and Aspiration: Index Creation and Corporate Behavior in Japan
- 28 Feb 2021
- Working Paper Summaries
Connecting Expected Stock Returns to Accounting Valuation Multiples: A Primer
- 08 Aug 2017
- First Look
First Look at Research and Ideas, August 8, 2017
Matthew D. Shaffer, and Charles C.Y. Wang Abstract—We study how a stock index can affect corporate behavior View Details
Keywords: Sean Silverthorne
- 06 Mar 2018
- First Look
First Look at Research and Ideas, March 6, 2018
Approach By: Chattopadhyay, Akash, Matthew R. Lyle, and Charles View Details
Keywords: Sean Silverthorne
- 05 Jun 2018
- First Look
New Research and Ideas, June 5, 2018
decisions to them. Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=53665 Expected Stock Returns Worldwide: A Log-Linear Present-Value Approach By: Chattopadhyay, Akash, Matthew View Details
Keywords: Dina Gerdeman
- March 2020
- Article
Governance Through Shame and Aspiration: Index Creation and Corporate Behavior
By: Akash Chattopadhyay, Matthew D. Shaffer and Charles C.Y. Wang
After decades of deprioritizing shareholders' economic interests and low corporate profitability, Japan introduced the JPX-Nikkei400 in 2014. The index highlighted the country's "best-run" companies by annually selecting the 400 most profitable of its large and liquid... View Details
Keywords: JPX-Nikkei 400 Index; Status Incentives; Return On Equity; Capital Efficiency; Social Norms; Index Inclusion; Reputation Incentives; Motivation and Incentives; Corporate Governance; Behavior; Investment Return; Status and Position; Japan
Chattopadhyay, Akash, Matthew D. Shaffer, and Charles C.Y. Wang. "Governance Through Shame and Aspiration: Index Creation and Corporate Behavior." Journal of Financial Economics 135, no. 3 (March 2020): 704–724.
- 27 May 2014
- First Look
First Look: May 27
Google's tying and bundling tactics are suspect under antitrust law. Download working paper: http://ssrn.com/abstract=2436940 The Cross Section of Expected Holding Period Returns and Their Dynamics: A... View Details
Keywords: Sean Silverthorne
- 16 Jun 2015
- First Look
First Look: June 16, 2015
itself, requires continual experimentation and adaptation. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=49244 Working Papers Accounting Data, Market Values, and the Cross Section of... View Details
Keywords: Sean Silverthorne
- 2021
- Working Paper
Connecting Expected Stock Returns to Accounting Valuation Multiples: A Primer
By: Akash Chattopadhyay, Matthew R. Lyle and Charles C.Y. Wang
We outline a framework in which accounting “valuation anchors" could be connected to expected stock returns. Under two general conditions, expected log returns is a log-linear function of a valuation (market value-to-accounting) multiple and the expected growth in the... View Details
Keywords: Expected Returns; Present Value; Investment Return; Accounting; Valuation; Information; Framework
Chattopadhyay, Akash, Matthew R. Lyle, and Charles C.Y. Wang. "Connecting Expected Stock Returns to Accounting Valuation Multiples: A Primer." Harvard Business School Working Paper, No. 21-081, January 2021.
- Article
Expected Stock Returns Worldwide: A Log-Linear Present-Value Approach
By: Akash Chattopadhyay, Matthew R. Lyle and Charles C.Y. Wang
This study provides the first large-scale study of the performance of expected-return proxies (ERPs) internationally. Analyst-forecast-based ICCs are sparsely populated and not robustly associated with future returns. Earnings-model-forecast-based ICCs are... View Details
Keywords: Expected Returns; Discount Rates; Fundamental Valuation; Implied Cost Of Capital; International Equity Markets; Present Value; Investment Return; Equity; Markets; Global Range
Chattopadhyay, Akash, Matthew R. Lyle, and Charles C.Y. Wang. "Expected Stock Returns Worldwide: A Log-Linear Present-Value Approach." Accounting Review 97, no. 2 (March 2022): 107–133.
- 01 Sep 2015
- First Look
First Look -- September 1, 2015
occurrence of default. Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=44340 Accounting Data, Market Values, and the Cross Section of Expected Returns Worldwide By: Chattopadhyay,... View Details
Keywords: Sean Silverthorne