- 06 Dec 2021
- Research & Ideas
The Popular Stock Metric That Can Lead Investors Astray
Investors may rely too heavily on a financial measure that no longer reflects the economic fundamentals of modern business. What should investors do? Research by Charles C.Y. Wang and colleagues. Open for comment; 0 Comments.
- 31 Mar 2018
- Working Paper Summaries
Expected Stock Returns Worldwide: A Log-Linear Present-Value Approach
Over the last 20 years, shortcomings of classical asset-pricing models have motivated research in developing alternative methods for measuring ex ante expected stock returns. This study evaluates the main paradigms for deriving firm-level expected return proxies (ERPs) and proposes a new framework for estimating them.
Open Source Software: The $9 Trillion Resource Companies Take for Granted
Many companies build their businesses on open source software, code that would cost firms $8.8 trillion to create from scratch if it weren't freely available. Research by Frank Nagle and colleagues puts a value on an economic necessity that will require investment to meet demand.