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\section{Literature Review}
\label{sec:literature}
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This section reviews the main theoretical and empirical contributions related to our research question.

\subsection{Theoretical Framework}
\label{subsec:theory}

The theoretical foundations of \ldots{} were established by \citet{cochrane2005asset}. In their framework, \ldots{}

\subsection{Empirical Evidence}
\label{subsec:empirical_evidence}

A growing body of empirical literature examines \ldots{} \citet{fama1993common} document that \ldots{} More recently, \citet{petersen2009estimating} show that \ldots{}

\subsection{Contribution to the Literature}
\label{subsec:contribution}

Our paper departs from the existing literature in several important ways. First, \ldots{} Second, \ldots{} Third, \ldots{}