Growth Expectations Drive Stock Prices? It May Be the Other Way Around
Share-price changes may have less to do with fundamentals than conventionally thought.
Growth Expectations Drive Stock Prices? It May Be the Other Way AroundHow investment funds disguise underperformance
Equity mutual funds artificially boost their dividend yields to attract more investors.
‘Juicing’ is costly to investors.
Lawrence E. Harris, Samuel Hartzmark, and David H. Solomon, “Juicing the Dividend Yield: Mutual Funds and the Demand for Dividends,” Journal of Financial Economics, forthcoming.
Share-price changes may have less to do with fundamentals than conventionally thought.
Growth Expectations Drive Stock Prices? It May Be the Other Way AroundFiguring out just how wealthy the ultrawealthy are is a tricky, and important, task.
How Can We Calculate the US’s Greatest Fortunes?They’ve applied millions of ‘disaster flags’ to credit files, masking missing payments.
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