{'fraction_non_alphanumeric': 0.0225, 'fraction_numerical': 0.0, 'mean_word_length': 5.512195121951219, 'pattern_counts': {'":': 0, '<': 0, '<?xml version=': 0, '>': 0, 'https://': 0, 'lorem ipsum': 0, 'www.': 0, 'xml': 0}, 'pii_count': 0, 'substrings_counts': 0, 'word_list_counts': {'cursed_substrings.json': 0, 'profanity_word_list.json': 0, 'sexual_word_list.json': 0, 'zh_pornsignals.json': 0}}
Global Small-Cap Stocks: A Life Cycle Perspective

In previous research, Global Small-Cap Stocks: Reexamined and Redefined, the Brandes Institute found divergent construction methodologies among global small-cap index providers and introduced a custom series of country and regional small-cap universes to explore detailed historical fundamental data. In the second phase of this research, Global Small-Cap Stocks: A Life Cycle Perspective, we use life cycle analysis to sort companies into different phases of development and challenge the notion that international small caps are similar to domestic small caps. In this research, we make a number of interesting discoveries on why international small caps are structurally different from domestic small caps, or even international large-cap stocks.