Key points are not available for this paper at this time.
William J. Baumol, Peggy Heim, Burton G. Malkiel, Richard E. Quandt, Earnings Retention, New Capital and the Growth of the Firm, The Review of Economics and Statistics, Vol. 52, No. 4 (Nov., 1970), pp. 345-355
Baumöl et al. (Sun,) studied this question.