extreme returns, prospect theory, lottery-like payoffs, cross-sectional relation, beta anomaly
Regulations, operating leverage, regulatory operating leverage, cross-section of returns, systematic risk
Personal savings rate, cross-section of returns, return predictability, economic uncertainty, labor income growth.
Unemployment, revisions in expected unemployment rate, return predictability, operating leverage
Market liquidity, sentiment, liquidity shocks, idiosyncratic liquidity, underreaction, cross-section of returns.
Regulations, regulatory operating leverage, mergers and acquisitions, economies of scale, value increasing acquisitions
Illiquidity, idiosyncratic liquidity, commonality in liquidity, underreaction, cross-section of returns.
