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May 2nd, 2016 |

Research Center Writes Paper Providing an Explanation for Profitability, Equity Dilution and Asset Growth Factor Returns

The Gerstein Fisher Research Center working paper, “Analyst Long-term Growth Forecasts, Accounting Fundamental and Stock Returns” by Gregg S. Fisher, Ronnie Shah, and Sheridan Titman, provides an explanation for three well-established return anomalies identified by academic research. The authors suggest that profitability, equity dilution and asset growth return premiums are driven by behavioral biases related to how analysts and investors form long-run earnings growth expectations.

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