After 50 years at the helm of Cummings Properties, billionaire and philanthropist Bill Cummings is winding down his roles at both the family business and foundation that he built. How should the management team move the company forward? Professor Christina Wing and protagonist Bill Cummings discuss in the case, Bill Cummings: The Cummings Way.
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by Akash Chattopadhyay, Matthew R. Lyle, and Charles C.Y. Wang
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.
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.