Glossier, the digital-first, direct-to-consumer beauty brand considers shifting its strategy toward influencer marketing and paid media. Professor Jill Avery discusses her case study.
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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.