The Value Creation Pricing Factor (CME): A Better “Value” Signal Than Book-to-Market?
A readable, research-backed walkthrough of the Value-Creation Pricing Factor (CME): what it is, how it’s built from ROIC–WACC economics, and why it improves on traditional value in modern factor models.
Capital Productivity and Value Creation Trends
Value creation in U.S. equity markets has shifted since 2008. This article analyzes capital productivity, cost of capital, and why firms with low value creation now outperform.
The Value-Creation Pricing Factor: Improving the Fama-French Five-Factor Model
Explore the Value-Creation Pricing Factor based on EVA (ROIC-WACC) and its ability to improve the Fama-French five-factor model. Evidence from a Master’s thesis on asset pricing and economic value creation.