Selection Criteria for Value and Growth Stocks: An In-Depth Analysis of the 130 Largest French Market Capitalizations

Bing Xiao, Laurent Mériade and Ludovic Delabarre
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Bing Xiao: CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne, IUT Clermont-Ferrand - Institut Universitaire de Technologie - Clermont-Ferrand - UCA - Université Clermont Auvergne
Laurent Mériade: CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne, IAE - UCA - Institut d'Administration des Entreprises - Clermont-Auvergne - UCA - Université Clermont Auvergne
Ludovic Delabarre: IUT Clermont-Ferrand - Institut Universitaire de Technologie - Clermont-Ferrand - UCA - Université Clermont Auvergne

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Abstract: Our study aims to test and possibly identify several selection criteria for Value and Growth stocks in order to strengthen the characterization and definition of these two types of stocks and to provide investors with pre-selection elements. The sample for our study includes the 130 largest French market capitalizations for the period between 2019 and 2021. To accurately distinguish these two types of stocks, our results demonstrate the relevance of combining the P/E and Book-to-Market ratios as well as their sectoral characteristics. Regardless of these combinations, the Value-to-EBITDA*ROE*Debt-to-Capitalization combination can also be one of the selection criteria for distinguishing Value-Growth stocks.

Keywords: Value; Growth; Equity Market; Portfolio Management; Efficiency of financial markets (search for similar items in EconPapers)
Date: 2025-05-19
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Published in SSRN : Social Science Research Network, 2025, ⟨10.2139/ssrn.5258160⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05074233

DOI: 10.2139/ssrn.5258160

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