Overreaction to growth opportunities: An explanation of the asset growth anomaly
The negative relation between asset growth and subsequent stock returns is known as the asset growth anomaly. We propose that overreaction to growth opportunities is the source of the asset growth anomaly. This suggests that growth firms as opposed to mature firms, and firms with longer series of as...
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Published in | European financial management : the journal of the European Financial Management Association Vol. 25; no. 4; pp. 747 - 776 |
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Main Authors | , , |
Format | Journal Article |
Language | English |
Published |
Oxford
Blackwell Publishing Ltd
01.09.2019
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Subjects | |
Online Access | Get full text |
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