College-educated workers entering the labor market in 1940 experienced a 4-fold increase in their labor earnings between the ages of 25 and 55; in contrast, the increase was 2.6-fold for those entering the market in 1980. For workers without a college education these figures are 3.6-fold and 1.5-fold, respectively. Why are earnings profiles flatter for recent cohorts? We build a parsimonious mo...


 Control of Covid-19 has coincided with a period economic growth in Indonesia. The banking sector felt the effects this. purpose this study is to identify and analyze effect Earning Per Share, Debt Equity Ratio, Return on Assets stock prices. For duration research project (2019-2021), we will calculate financial ratios companies traded Indonesia Stock Exchange relative their Information f...

This paper aimed to develop a useful Machine Learning (ML) model for detecting companies with lasting competitive advantages (companies’ moats) according their financial ratios in order improve the performance of investment portfolios. First, we computed belonging S&P 500. Subsequently, assessed stocks’ moats an evaluation defined between 0 and 5 each ratio. The sum all provided score 100 c...

Investors make decisions based on various factors, including consumer price index, price-earnings ratio, and also miscellaneous events reported by newspapers. In order to assist their decisions in a timely manner, many studies have been conducted to automatically analyze those information sources in the last decades. However, the majority of the efforts was made for utilizing numerical informat...

We model conditional market beta and alpha as flexible functions of state variables identified via a formal variable selection procedure. In the post-1963 sample, beta of the value premium comoves strongly with unemployment, inflation, and price-earnings ratio in a countercyclical manner. We also uncover a novel nonlinear dependence of alpha on business conditions: It falls sharply and becomes ...

Using 1980/81 and 1990/91 census data from Australia, Canada, and the United States, we estimate the effects of time in the destination country on male immigrants’ wages, employment and earnings. We find that total earnings assimilation is greatest in the United States and least in Australia. Employment assimilation explains all of the earnings progress experienced by Australian immigrants, whi...

Due to real estate and financial industry respectively characterized by strong and weak periodicity, this article aiming to investigate which kind of cyclical industry in the listed companies will Price/Earnings (PE) and Price/Book value (PB) be more suitable for evaluating selects the data of Shenzhen Development Bank (SDB) and Vanke A from Feb. 28 1991 to June 3

I present evidence of inefficient information processing in equity markets by documenting that negative information withheld by securities analysts is incorporated in stock prices with a significant delay. I estimate the extent of the withheld negative information based on the proportion of analysts who stop revising their annual earnings forecasts. This measure predicts negative earnings surpr...

This paper documents the frequency and magnitude of “pro forma” earnings in press releases issued during June through August 2000 and describes the 433 firms that engaged in this financial disclosure strategy. We then use a market multiples approach to determine if investors assign a higher (or lower) share price to pro forma firms than other firms. We find no evidence that pro forma firms are ...

Separating Uncertainty from Heterogeneity in Life Cycle Earnings This paper develops and applies a method for decomposing cross section variability of earnings into components that are forecastable at the time students decide to go to college (heterogeneity) and components that are unforecastable. About 60% of variability in returns to schooling is forecastable. This has important implications ...