The Other Side of Value: Good Growth and the Gross Profitability Premium
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Profitability, as measured by gross profits-to-assets, has roughly the same power as book-to-market predicting the cross-section of average returns. Profitable firms generate significantly higher average returns than unprofitable firms, despite having, on average, lower book-to-markets and higher
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美国国家经济研究局创建时间：
2010-04-01
