Good News for Value Stocks: Further Evidence on Market Efficiency
نویسندگان
چکیده
منابع مشابه
Market Portfolio Efficiency and Value Stocks
In this journal, Best, Best and Yoder (2000) recently demonstrated that portfolios of US value stocks dominate portfolios of US growth stocks in terms of second-order stochastic dominance (SSD). However, we cannot conclude from this finding that the market is SSD inefficient, because market portfolio efficiency generally does not require growth portfolios to be efficient. Furthermore, stochasti...
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ژورنال
عنوان ژورنال: The Journal of Finance
سال: 1997
ISSN: 0022-1082
DOI: 10.1111/j.1540-6261.1997.tb04825.x