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Equity market valuation of human capital and stock returns
16 references·16 citing·23 second hopsampled
Equity market valuation of human capital and stock returns (2009)Equity market valuation of human capital …Is Information Risk a Determinant of Asset Returns? (2002)Is Information Risk a Determi…Differences of Opinion and the Cross Section of Stock Returns (2002)Differences of Opinion and th…Profitability of Momentum Strategies: An Evaluation of Alternative Explanations (2001)Profitability of Momentum Str…Investor Psychology and Asset Pricing (2001)Investor Psychology and Asset…The Boundaries of Financial Reporting and How to Extend Them (1999)The Boundaries of Financial R…On Persistence in Mutual Fund Performance (1997)On Persistence in Mutual Fund…Industry costs of equity (1997)Industry costs of equityMultifactor Explanations of Asset Pricing Anomalies (1996)Multifactor Explanations of A…THE IMPACT OF HUMAN RESOURCE MANAGEMENT PRACTICES ON TURNOVER, PRODUCTIVITY, AND CORPORATE FINANCIAL PERFORMANCE. (1995)THE IMPACT OF HUMAN RESOURCE …Size and Book-to-Market Factors in Earnings and Returns (1995)Size and Book-to-Market Facto…Earnings, Book Values, and Dividends in Equity Valuation* (1995)Earnings, Book Values, and Di…Diversification's effect on firm value (1995)Diversification's effect on f…Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Returns to Buying Winners and…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…The Cross-Section of Expected Stock Returns (1992)The Cross-Section of Expected…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The Fragility of Organization Capital (2021)The Fragility of Organization…The Stock Market Valuation of Human Capital Creation (2020)The Stock Market Valuation of…Is human capital the sixth factor? (2018)Is human capital the sixth fa…Drivers for voluntary intellectual capital reporting based on agency theory (2018)Drivers for voluntary intelle…Organizational capital, intellectual capital and cost stickiness (evidence from Iran) (2017)Organizational capital, intel…Measuring the intellectual capital of Italian listed companies (2017)Measuring the intellectual ca…Executives' horizon, internal governance and stock market liquidity (2016)Executives' horizon, internal…Estimating a measure of intellectual capital value to test its determinants (2015)Estimating a measure of intel…Intellectual capital, strategy and financial crisis from a SMEs perspective (2014)Intellectual capital, strateg…INFLUENCE OF INTELLECTUAL CAPITAL ON THE GROWTH OF SMALL AND MEDIUM ENTERPRISES IN KENYA (2014)INFLUENCE OF INTELLECTUAL CAP…Does the Market Value Social Pillar? (2014)Does the Market Value Social …Intellectual capital vs the book-value of assets (2013)Intellectual capital vs the b…Institutional Environment, Ownership, and Disclosure of Intangibles: Evidence from East Asia (2013)Institutional Environment, Ow…The drivers of the relationship between corporate environmental performance and stock market returns (2012)The drivers of the relationsh…Future labor income growth and the cross-section of equity returns (2010)Future labor income growth an…Cross-sectional tests of the CAPM and Fama–French three-factor model (2009)Cross-sectional tests of the …CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Dividend Policy, Growth, and the Valuation of Shares (1961)The Theory and Measurement of Business Income (1961)Valuation and Clean Surplus Accounting for Operating and Financial Activities* (1995)Capital markets research in accounting (2001)Does Corporate Social Responsibility Affect the Cost of Capital? (2010)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Does the Stock Market Overreact? (1985)An Intertemporal Capital Asset Pricing Model (1973)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)Specification Tests in Econometrics (1978)Firm Resources and Sustained Competitive Advantage (1991)MODES OF THEORIZING IN STRATEGIC HUMAN RESOURCE MANAGEMENT: TESTS OF UNIVERSALISTIC, CONTINGENCY, AND CONFIGURATIONS. PERFORMANCE PREDICTIONS. (1996)THE IMPACT OF HUMAN RESOURCE MANAGEMENT ON ORGANIZATIONAL PERFORMANCE: PROGRESS AND PROSPECTS. (1996)THE IMPACT OF HUMAN RESOURCE MANAGEMENT PRACTICES ON PERCEPTIONS OF ORGANIZATIONAL PERFORMANCE. (1996)Firm resources and sustained competitive advantage (2004)Measuring Mutual Fund Performance with Characteristic‐Based Benchmarks (1997)Conditional Skewness in Asset Pricing Tests (2000)Investor Psychology and Security Market Under‐ and Overreactions (1998)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1997On Persistence in Mutual Fund Performance17,267 cited
  • 1992The Cross-Section of Expected Stock Returns17,251 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1993Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency11,575 cited
  • 1995THE IMPACT OF HUMAN RESOURCE MANAGEMENT PRACTICES ON TURNOVER, PRODUCTIVITY, AND CORPORATE FINANCIAL PERFORMANCE.9,338 cited
  • 1996Multifactor Explanations of Asset Pricing Anomalies6,710 cited
  • 1997Industry costs of equity5,793 cited
  • 1995Earnings, Book Values, and Dividends in Equity Valuation*5,061 cited
  • 1995Size and Book-to-Market Factors in Earnings and Returns3,456 cited
  • 1995Diversification's effect on firm value3,069 cited
  • 2001Profitability of Momentum Strategies: An Evaluation of Alternative Explanations2,445 cited
  • 2001Investor Psychology and Asset Pricing2,429 cited
  • 2002Differences of Opinion and the Cross Section of Stock Returns2,145 cited
  • 1999The Boundaries of Financial Reporting and How to Extend Them1,930 cited

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  • 2002Is Information Risk a Determinant of Asset Returns?1,862 cited
  • Cited by

    • 2017Measuring the intellectual capital of Italian listed companies91 cited
    • 2015Estimating a measure of intellectual capital value to test its determinants59 cited
    • 2014Intellectual capital, strategy and financial crisis from a SMEs perspective55 cited
    • 2016Executives' horizon, internal governance and stock market liquidity49 cited
    • 2018Drivers for voluntary intellectual capital reporting based on agency theory48 cited
    • 2014Does the Market Value Social Pillar?48 cited
    • 2012The drivers of the relationship between corporate environmental performance and stock market returns45 cited
    • 2009Cross-sectional tests of the CAPM and Fama–French three-factor model39 cited
    • 2013Intellectual capital vs the book-value of assets39 cited
    • 2017Organizational capital, intellectual capital and cost stickiness (evidence from Iran)37 cited
    • 2018Is human capital the sixth factor?34 cited
    • 2014INFLUENCE OF INTELLECTUAL CAPITAL ON THE GROWTH OF SMALL AND MEDIUM ENTERPRISES IN KENYA34 cited
    • 2020The Stock Market Valuation of Human Capital Creation30 cited
    • 2010Future labor income growth and the cross-section of equity returns28 cited
    • 2013Institutional Environment, Ownership, and Disclosure of Intangibles: Evidence from East Asia23 cited
    • 2021The Fragility of Organization Capital19 cited