Home

Depreciation Shocks and Equity Returns

Abstract Views
9
Author
Wenhao Zhao
Category
Financial
Date Posted
2022/06/20
Date Retrieved
2022/06/21
Date Revised
2022/06/21
Date Written
2022/03/10
Description
We use depreciation data to show that depreciation rate is stochastic and that shocks to depreciation unexplained by utilization carry a negative factor risk premium. Equities that are more exposed to systematic depreciation shocks include firms that are more capital intensive but also firms with higher organization capital.
Downloads
2
Exports
0
JEL Classifications
G12
Keywords
Empty
News Mentions
0
Pages
5
Random
102
Readers
0
Shares and Likes
0
Tweets
0
URL
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4141727
TOP