This paper studies the asset pricing implications of industrial pollution. A long‐short portfolio
constructed from firms with high versus low toxic emission intensity within an industry …

It has been a decade since the first extensive study on the internet's adoption and use was
conducted. Circumstances have changed in the last decade internet has become an …

Identifying the factors that drive the cross-section of expected returns is challenging for at
least three reasons. First, the choice of testing approach (time series versus cross-sectional) …

Using firm‐level data from the Bureau van Dijk‐Amadeus database, we study the relation
between firms' financial structure, access to external finance, and total factor productivity in …

We explore the extent to which cross‐sectional differences in carbon dioxide emissions
matter for future valuations of European firms regulated under the European Union Trading …

This paper aims to identify the costs of capital in a group of companies from the energy
sector by including an investor and market risk approach. The study also concerns the …

This paper jointly examines the link between competition and expected returns in the time
series and in the cross-section. To this end, we build a general equilibrium model where …

This paper argues that leasing is a risk-sharing mechanism: risk-tolerant lessors (capital
owners) provide insurance to financially constrained risk-averse lessees (capital borrowers) …

We study the relation between trade credit, asset prices, and production-network linkages.
Empirically, firms extending more trade credit earn 7.6 pa lower risk premiums and maintain …

I examine the asset pricing implications of technological innovations that allow capital to
displace labor: automation. I develop a theory in which firms with displaceable labor are …