Abstract

http://ssrn.com/abstract=585745
 
 

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Value Versus Growth: Movements in Economic Fundamentals


Yuhang Xing


Rice University

Lu Zhang


Ohio State University - Fisher College of Business; National Bureau of Economic Research (NBER)

March 2005

Simon School Working Paper No. FR 05-10
AFA 2006 Boston Meetings Paper

Abstract:     
We conduct a comprehensive study of the cyclical movements in economic fundamentals for value and growth firms. We document that the fundamentals of value firms are more adversely affected by negative business cycle shocks than those of growth firms. The differential response between value and growth firms is mostly significant. We also present some evidence suggesting that lack of flexibility in capital investment underlies the more cyclical behavior of value firms.

Number of Pages in PDF File: 35

Keywords: Value, growth, economic fundamentals, business cycles, VAR

JEL Classification: E44, G12, G14

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Date posted: November 13, 2005  

Suggested Citation

Xing, Yuhang and Zhang, Lu, Value Versus Growth: Movements in Economic Fundamentals (March 2005). Simon School Working Paper No. FR 05-10; AFA 2006 Boston Meetings Paper. Available at SSRN: http://ssrn.com/abstract=585745 or http://dx.doi.org/10.2139/ssrn.585745

Contact Information

Yuhang Xing
Rice University ( email )
6100 South Main Street
Houston, TX 7705-1892
United States
Lu Zhang (Contact Author)
Ohio State University - Fisher College of Business ( email )
2100 Neil Avenue
Columbus, OH 43210-1144
United States
585-267-6250 (Phone)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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