Cost Growth and Stock Returns
In this paper, we examine the valuation implications of cost behavior, and find that firms with high growth rate in operating costs generate substantially lower future stock returns than those with low cost growth. A spread portfolio of long stocks with low cost growth and short stocks with high cos...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2014
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/4491 https://ink.library.smu.edu.sg/context/lkcsb_research/article/5490/viewcontent/SSRN_id2460540__1_.pdf |
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| Institution: | Singapore Management University |
| Language: | English |