Figure 2
The matrix is divided into six portfolios based on two size categories and three value categories. The size categories are Small ME and Big ME, while the value categories are Low BE/ME, Medium BE/ME, and High BE/ME. The matrix has three rows and two columns, creating six distinct portfolios: Small ME and Low BE/ME (S/L), Small ME and Medium BE/ME (S/M), Small ME and High BE/ME (S/H), Big ME and Low BE/ME (B/L), Big ME and Medium BE/ME (B/M), and Big ME and High BE/ME (B/H). Each portfolio is determined by intersecting the size and value categories.Classification of companies based on median ME and BE/ME Percentiles. Source: Authors' own work