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Sales order backlogs and momentum profits |
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| Authors: | Li Gu Dayong Huang |
| Affiliation: | 1. School of Business, Fordham University, 113 W 60th St., New York, NY 10023, United States;2. Department of Accounting and Finance, Bryan School of Business and Economics, UNC Greensboro, Greensboro, NC 27402, United States |
| Abstract: | Winner stocks have higher changes in sales order backlogs and a sales order backlog factor is significant in explaining various winner minus loser returns and often reduces the αs by big margins. We argue that this factor is a proxy for innovation in demand in the economy and it is likely to relate to expected growth risks and future business conditions. |
| Keywords: | G11 G12 M40 |
| 本文献已被 ScienceDirect 等数据库收录！ | |