by Akash Chattopadhyay, Matthew R. Lyle, and Charles C.Y. Wang - Publications - Faculty & Research

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

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05 Jun 2018
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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

27 May 2014
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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
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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

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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

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2021
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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

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02 Feb 2016
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February 2, 2016

Matthew R. Lyle, and Charles C.Y. Wang... View Details

Keywords: Sean Silverthorne

01 Sep 2015
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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

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Expected Stock Returns Worldwide: A Log-Linear Present-Value Approach

Governance Through Shame and Aspiration: Index Creation and Corporate Behavior in Japan

Connecting Expected Stock Returns to Accounting Valuation Multiples: A Primer

First Look at Research and Ideas, August 8, 2017

First Look at Research and Ideas, March 6, 2018

Governance Through Shame and Aspiration: Index Creation and Corporate Behavior

New Research and Ideas, June 5, 2018

First Look: May 27

First Look: June 16, 2015

Expected Stock Returns Worldwide: A Log-Linear Present-Value Approach

Connecting Expected Stock Returns to Accounting Valuation Multiples: A Primer

February 2, 2016

First Look -- September 1, 2015