. Low risk (volt.) Premium: Liquidity-constrained investors can no longer sustain their leveraged position during crisis. Size Premium: Smaller stocks tend to have lower profitability and high uncertainty
empirical finding that stocks with low systematic risk tend to earn higher returns than the Capital Asset Pricing Model (CAPM) predicts and vice versa – is that leveraged- constrained and index-benchmarked
power, as farm income continued to be constrained by low prices of agricultural products and nonfarm income remained lackluster. Moreover, high levels of household debt caused the generation of new loans
constrained by high household debt. Fierce competition continued and each bank attempted to develop products and services to serve customers through digital channels. New business models, together with insights
uncomfortable with individual engagement. } When an investor has a small number of shares, or is resource-constrained. A cautionary note about collaborative letters: Collaborative letters can send a powerful