2009 Press Releases
Award for Accounting & Finance Academic
17.06.2009
Michelle Carr, a lecturer in Accounting & Finance at UCC was recently awarded the Edward Cahill prize for the best paper in the Irish Accounting Review over the three years 2006-2008.
17.06.2009
Michelle Carr, a lecturer in Accounting & Finance at UCC was recently awarded the Edward Cahill prize for the best paper in the Irish Accounting Review over the three years 2006-2008.
The prize commemorates the late Professor Edward Cahill who was a founding member of the Irish Accounting and Finance Association and Professor of Accounting at UCC until his retirement in January 2005. The paper, which is titled “The Role of Human Capital in Explaining the Cross-Sectional Variation of FTSE 100 Stock Returns,” was co-authored with Fergal G. O’Brien of the University of Limerick.
The paper examines if the conditional labour Capital Asset Pricing Model (CAPM) enhances our understanding of why stocks earn different returns. It is found that once it is acknowledged that the CAPM is designed to explain expected rather than realised returns the model’s explanatory power is enhanced. However, the inclusion of a proxy for human capital in the model does offer any further improvements. The article was published in the Winter 2008 edition of the Irish Accounting Review.
Picture: Michelle Carr
1145MMcS
The paper examines if the conditional labour Capital Asset Pricing Model (CAPM) enhances our understanding of why stocks earn different returns. It is found that once it is acknowledged that the CAPM is designed to explain expected rather than realised returns the model’s explanatory power is enhanced. However, the inclusion of a proxy for human capital in the model does offer any further improvements. The article was published in the Winter 2008 edition of the Irish Accounting Review.
Picture: Michelle Carr
1145MMcS