This survey reviews the literature on sell-side analysts' forecasts and their implications for
asset pricing. We review the literature on the supply and demand forces shaping analysts' …

We examine the impact of government economic policy uncertainty (GEPU) on corporate
innovation and identify a cost-of-capital transmission channel. We find that GEPU increases …

Purpose–This paper aims to review the relevant literature on mergers and acquisitions in an
attempt to provide a comprehensive account of what we know about mergers and which …

We document a significant positive relation between drought risk and the cost of equity
capital. Our estimation shows that the cost of equity capital is 92 basis points higher for firms …

This paper examines the impact of the recent financial crisis (2008–2009) on the relation
between a firm's risk and social performance (SP) using a sample of non-financial US firms …

We use earnings forecasts from a cross-sectional model to proxy for cash flow expectations
and estimate the implied cost of capital (ICC) for a large sample of firms over 1968–2008 …

We examine the relation between firm‐level transparency, stock market liquidity, and
valuation across countries, focusing on whether the relation varies with a firm's …

We argue that the implied cost of capital (ICC), computed using earnings forecasts, is useful
in capturing time variation in expected stock returns. First, we show theoretically that ICC is …

We study whether the constraints on firms' operations imposed by labor unions affect firms'
costs of equity. The cost of equity is significantly higher for firms in more unionized …

We find a positive cross-sectional relationship between expected stock returns and default
risk, contrary to the negative relationship estimated by prior studies. Whereas prior studies …