Resesi adalah kelesuan, seolah terhenti, dalam kegiatan dagang, industri, dan sebagainya
atau menurunnya kegiatan dagang (industri). Resesi ekonomi sangat berpengaruh …

Kenaikan inflasi pasca pandemi mencapai 6%, tingkat suku bunga acuan Bank Indonesia
yang sudah mengalami kenaikan, isu resesi global tahun 2023 yang disebabkan tingginya …

The quality of information environment has impact on the market risk premium and the
expected risk reduction on macroeconomic announcement days. The risk premium is high …

Mergers and acquisitions (M&A) with financial technology (fintech) companies can be an
effective way for firms to obtain new technologies and capabilities. However, the market …

In the data, stock market volatility negatively predicts short-run equity and variance risk
premia, at odds with leading asset pricing models. I show that infrequent large volatility …

In this study, we explore whether auditor experience has an effect on stock price crash risk.
Using a sample of Chinese firms, we find a negative association between auditor …

This paper develops a methodology to test structural asset pricing models based on their
implications for the multiperiod risk-return trade-off. A new measure, the term structure of …

Recessions lead to substantial, yet not immediate drop in output. The low and often negative
growth during recessions is typically followed by a steady recovery with abnormally high …

I document a new stylized fact: The higher the degree of institutional ownership (IO) in a
portfolio, the more time-varying expected returns rather than changes in expected cash flows …