Asset Growth and the Cross-Section of Stock Returns

By Michael J. Cooper, Huseyin Gulen, Michael J. Schill. 2008

1,394 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/b56400acef7c23121c0894970f5f2ef6419e3726

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. David A. Hirshleifer
2. Kewei Hou
3. Robert Novy-Marx
4. Lu Zhang
5. Alok Kumar
6. Avanidhar Subrahmanyam
7. Chen Xue
8. Nicholas Barberis

In Finance

1. David A. Hirshleifer
2. Robert Novy-Marx
3. Nicholas Barberis
4. Avanidhar Subrahmanyam
5. Heiko Jacobs
6. Lasse Heje Pedersen
7. Kewei Hou
8. Alok Kumar

In Strategy and Management

1. Kewei Hou
2. Robert Novy-Marx
3. Dongmei Li
4. Nicholas Barberis
5. David A. Hirshleifer
6. Juhani T. Linnainmaa
7. Lu Zhang
8. Xiaoji Lin

Citations in the corpus

• Investor sentiment in the stock market (2013, neutral): “Other than size, value, momentum and reversal effects, the literature presents several more anomalies such as January effect ((Keim, 1983), (Reinganum, 1983)) and asset growth (Cooper et al., 2008).”
• On the Scope and Drivers of the Asset Growth Effect (2011, positive): “We observe a substantial reversal pattern in the intercept of the difference portfolio consistent with Cooper et al. (2008).”
• The Investment Manifesto (2013, background): “” Cooper et al. interpret the asset growth effect as saying “such potential distortions are present and economically meaningful.” Surveying the literature, Barberis and Thaler (2003) write: “while the behavior of the aggregate stock market is not easy to understand from the rational point of view, p”
• A Financing-Based Misvaluation Factor and the Cross Section of Expected Returns (2010, methodology): “9This is consistent with the evidence of Stigler (1964), Spiess and Affleck-Graves (1999), Bradshaw, Richardson, and Sloan (2006), and Cooper, Gulen, and Schill (2008).”
• The Cross Section of Expected Stock Returns (2014, positive): “Cooper, Gulen, and Schill (2008) show that a composite measure, the growth in total assets, has strong predictive power for future returns (see, also, Daniel and Titman, 2006; Fama and French, 2006, 2008).”
• Do Portfolio Distortions Reflect Superior Information or Psychological Biases? (2013, positive): “Next, we add 7 additional factors to this model, including 3 industry-based factors obtained using the Pástor and Stambaugh (2002) method, short-term and long-term reversal factors, the Cooper et al. (2008) asset growth factor, and the Pástor and Stambaugh (2003) liquidity factor.”