The Effect of the Growth in Labor Hours per Worker on Future Stock Returns,Hiring,and Profitability

摘要：

　　A high growth rate in labor hours per worker signals low future stock market returns and high future hiring.In the presence of an increase in the number of labor hours per worker,hiring becomes less responsive to the future discount rate.The growth rate in the number of labor hours per worker does not appear to be related to future profitability.

关键词： Labor hours per worker Asset returns

作者: Li Gu Dayong Huang

作者单位: Division of Banking Supervision and Regulation,Federal Reserve Board,Washington DC 20551 Department of Accounting and Finance,Bryan School of Business and Economics,UNC Greensboro,Greensbor

会议类型: 国内会议

会议名称: 2016《中国金融评论》国际研讨会

会议地点: 上海

会议语种:英文

页码: 449-494

在线出版日期: 2016-07-16（万方平台首次上网日期，不代表论文的发表时间）