Purpose: The aim of this research is to develop a two stages optimization model on make or buy analysis and quality improvement considering learning and forgetting curve. The first stage model is developed to determine the optimal selection of process/suppliers and the component allocation to...

Quality, defined as companies with high returns on capital, good quality of earnings, and low leverage, has substantial superior investment return predictability. Quality firms as selected by our strategy generate substantially superior returns even though they are significantly larger than the...

In a multiperiod investment framework, firms with high expected growth earn higher expected returns than firms with low expected growth, holding investment and expected profitability constant. This paper forms cross-sectional growth forecasts, and constructs an expected growth factor that yields...