What is the difference between value stock and growth stock?

[siidheart]

In book, while computing the dividend yield = D / P, it is mentioned in the book that “choosing high dividend yield stocks reflects a value rather than a growth investment strategy”
By this, I think it means that because D / P, ie, the dividend yield decreases as growth increases, this is now growth oriented - and when it is not growth oriented, it is value oriented by law of exception…. so, high dividend yield stocks are value stocks…. you will keep getting value of your money in the form of dividends„,!!
Is my explanation correct?

 

[Gurifissu]

Growth stocks tend to have high market capitalization (P), hence D/P is lower.