ANDERSON, CHRISTOPHER W.; GARCIA-FEIJÃO, LUIS - In: Journal of Finance 61 (2006) 1, pp. 171-194
Growth in capital expenditures conditions subsequent classification of firms to portfolios based on size and book-to-market ratios, as in the widely used <link rid="b19 b20">Fama and French (1992, 1993)</link> methods. Growth in capital expenditures also explains returns to portfolios and the cross section of future stock...