Have you ever wondered how Hershey chocolate came to be so popular? Professor Nancy Koehn discusses the life and vision of Milton Hershey, the entrepreneur and philanthropist behind the Hershey chocolate bar, the town of Hershey, Pennsylvania, and the Milton Hershey School.
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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.