Lam, F.Y. Eric C.; Wei, K.C. John - In: Journal of Financial Economics 102 (2011) 1, pp. 127-149
We empirically evaluate the predictions of the mispricing hypothesis with limits-to-arbitrage suggested by Shleifer and Vishny (1997) and the q-theory with investment frictions proposed by Li and Zhang (2010) on the negative relation between asset growth and average stock returns. We conduct...