Operating Cost Flexibility and Implications for Stock Returns
This study suggests a new measure for a firm’s operating cost flexibility. Flexible firms are less risky and, therefore, require lower stock returns. This analysis of 126,202 firm-year observations from the U.S. cross-section of stock returns finds that the new measure explains a negative significan...
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| Autore principale: | |
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| Natura: | Artigo |
| Lingua: | Inglês |
| Pubblicazione: |
MDPI AG
2024-10-01
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| Serie: | Risks |
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| Accesso online: | https://www.mdpi.com/2227-9091/12/10/161 |
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