Firms’ Stock Prices, Stock Returns, and Remaining Lifetime Earnings

The authors thank Eric So, the associate editor, and two anonymous referees for their insightful comments. The authors are grateful to Trevor Harris, Shyam Sunder, and workshop participants at Columbia Business School, Washington University in St. Louis, the 2023 FARS Midyear Meeting, and the 2021 JAAF conference for helpful conversations about the paper. Prior versions of this manuscript were circulated under the title “Lifetime Earnings”.