The coronavirus pandemic of 2020/21 may have fundamentally altered the relationship between workers and their office environments. For the first time in recorded history, a devastating virus forced countries across the globe to mandate lockdowns. Entire working populations had to remain at home, and in many cases businesses that were formerly…
Why do we invest in stocks? Many of us do so because stocks offer higher expected returns than cash and Treasury bills. This difference in expected returns between stocks and Treasury bills is called…
This paper studies the differential credit risks embedded in the cross-section of credit spreads. Using corporate bond data from 1999 to 2018, Dimensional find that credit spreads relative to those…
Borrowing fees set in the securities lending market contain reliable information about the cross-section of short-term expected stock returns. Using securities lending data for 14 developed and…
