Sga Stickiness Internal Pit
In plain terms
Research-only accepted-time fundamental policy. It is not production-approved or an established return effect.
How it works
internal_hypothesis: Anderson-Banker-Janakiraman 2003 measures cost stickiness, not a stock-return short rule; the SG&A-minus-revenue growth gap is frozen as Alphactor's hypothesis (expected sign negative, borrow-gated short tail)
Data dependencies
- Xbrl fundamental snapshots pit
A data feed this strategy reads, refreshed on its normal schedule.
- Xsec accounting factor signals
A data feed this strategy reads, refreshed on its normal schedule.
- Xsec fundamental formation manifests
A data feed this strategy reads, refreshed on its normal schedule.
- Stock borrow pit
A data feed this strategy reads, refreshed on its normal schedule.
Expected edge
No inherited alpha claim; evaluate this causal policy post-cost against identical-episode controls.
Related families
Eight accounting red flags (sales receivables stretching faster than sales, margin compression, asset-quality drift, leverage jumps, accruals piling up) are combined into a single score. When the score crosses the manipulator threshold and the price chart already agrees, that's a short setup.
Companies with high gross profit / total assets keep beating peers — it's the cleanest measure of 'is this business actually good'.
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