Inventory Growth

⚠ weakened

ChInvInvestment· Accounting data

12 month change in inventory (invt) divided by average total assets.

IS Sharpe (1952–2001)

1.161

+8.9% p.a.

OOS Sharpe (2002–2024)

0.482

+3.2% p.a.

Sharpe decay

+58.5%

(IS − OOS) / |IS|

IS vol

7.7%

annualized

Cumulative return (last 40 years, monthly)

+1142%

1984-012024-12

Publication details

AuthorsThomas and Zhang

PaperThomas and Zhang (2002)

JournalReview of Accounting Studies

Publication year2002

Original sample1970–1997