Members' Digest

Title and keywords

Members' Digest

2018

Sexy or Safe: Why do Predicted Stock Issuers Earn Low Returns?

Charles M. C. LEE

Predicted stock issuers (PSIs) are firms with expected “high-investment and low-profit” (HILP) profiles that earn unusually low returns. We carefully document important features of PSI firms to provide new insights on the economic mechanism behind the HILP phenomenon. Our results show top-PSI fi...

Keywords: Charles M.C. LEE, Ken LI