Cash Flow News and the Investment Effect in the Cross-Section of Stock Returns

2014 ◽  
Author(s):  
Mike Qinghao Mao ◽  
K. C. John Wei
Keyword(s):  
Stock Returns ◽  
Cross Section ◽  
Cash Flow ◽  
The Cross ◽  
Cash Flow News

Cash-Flow News and the Investment Effect in the Cross Section of Stock Returns

2016 ◽  
Vol 62 (9) ◽  
pp. 2504-2519 ◽  
Author(s):  
Mike Qinghao Mao ◽  
K. C. John Wei
Keyword(s):  
Stock Returns ◽  
Cross Section ◽  
Cash Flow ◽  
The Cross ◽  
Cash Flow News

Net stock issuance anomaly and cash flow explanation: A research note

2017 ◽  
Vol 43 (2) ◽  
pp. 286-304 ◽  
Author(s):  
Alan Meng Li ◽  
Dharmendra Naidu ◽  
Farshid Navissi ◽  
Kumari Ranjeeni
Keyword(s):  
Stock Returns ◽  
Empirical Evidence ◽  
Cross Section ◽  
Cash Flow ◽  
Jel Classification ◽  
Research Note ◽  
Stock Repurchases ◽  
Negatively Associated ◽  
The Cross ◽  
Stock Issuance

Prior studies show that net stock issuance is negatively associated with the cross section of future stock returns, reflecting a market anomaly. Our study provides empirical evidence on whether cash flow can mitigate such anomaly. Consistent with prior research, we initially provide evidence of the anomaly in our sample and that the anomaly persists in the presence of cash flow. We then decompose net stock issuance into stock issues and stock repurchases and find that the anomaly is only driven by stock issues but not stock repurchases and that the stock issues’ anomaly persists even in the presence of cash flow. JEL Classification: G12, G14

Seasonality in the Cross-Section of Stock Returns

CFA Digest ◽  
2008 ◽  
Vol 38 (3) ◽  
pp. 55-56
Author(s):  
Kathryn Dixon Jost
Keyword(s):  
Stock Returns ◽  
Cross Section ◽  
The Cross
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