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Table 8 Annual number of stocks in 25 value-weighted Size-OP portfolios and 25 value-weighted Size-Inv portfolios

From: Whether profitability and investment factors have additional explanatory power comparing with Fama-French Three-Factor Model: empirical evidence on Chinese A-share stock market

 

2010

2011

2012

2013

2014

 

2010

2011

2012

2013

2014

S1P1

1

5

27

38

167

S1I1

155

131

130

152

149

S1P2

0

4

20

39

131

S1I2

82

67

89

111

112

S1P3

1

1

7

15

86

S1I3

44

56

72

70

80

S1P4

1

1

2

6

44

S1I4

32

52

49

52

56

S1P5

3

1

2

4

21

S1I5

19

90

100

64

64

S2P1

5

8

25

41

129

S2I1

87

88

116

105

121

S2P2

2

2

17

34

113

S2I2

68

97

92

108

113

S2P3

1

2

16

23

104

S2I3

60

56

69

93

97

S2P4

2

2

3

6

73

S2I4

50

48

73

63

68

S2P5

0

4

0

5

28

S2I5

66

108

88

83

62

S3P1

5

5

30

42

88

S3I1

66

94

82

109

92

S3P2

3

8

31

42

107

S3I2

81

89

101

99

101

S3P3

3

2

7

27

104

S3I3

71

69

98

86

100

S3P4

0

0

2

5

101

S3I4

54

60

73

84

94

S3P5

1

3

3

5

45

S3I5

60

82

86

73

75

S4P1

21

25

33

45

54

S4I1

55

69

77

72

69

S4P2

18

21

37

46

83

S4I2

60

90

99

83

95

S4P3

9

17

31

44

110

S4I3

81

84

84

106

95

S4P4

9

12

9

27

126

S4I4

65

78

85

100

96

S4P5

2

4

5

10

69

S4I5

69

75

95

91

108

S5P1

27

35

40

41

42

S5I1

35

41

55

51

59

S5P2

34

43

48

45

49

S5I2

64

90

71

83

66

S5P3

42

53

75

78

72

S5I3

77

112

113

98

91

S5P4

39

62

72

78

109

S5I4

84

100

128

125

122

S5P5

31

53

46

61

166

S5I5

71

53

72

94

124

  1. This table presents the annual firm numbers in each 25 Size-OP portfolios and 25 Size-Inv portfolios from 2010 to 2014, in which S is the size group, P is the profitability groups, and I is the investment groups. For instance, S1P1 portfolio indicates the intersection of firms in the bottom 20% size quintile and firms in the bottom 20% OP quintile