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- Title
Behaviour of Value Stocks versus Growth Stocks: An Evidence for Indian Stock Market.
- Authors
Balakrishnan, A.; Yogalakshmi, N.
- Abstract
In this paper, we examine whether value stocks are able to outperform growth stocks in terms of producing significant returns. We also evaluate the ability of one factor CAPM and two factor model of capturing average returns on portfolios. We find from the results that there is a strong value effect in Indian stock market particularly when one forms portfolio based on PB and PE ratios. On the other hand, weak negative value effect is found in portfolios based on EPS and DY. The empirical results show that both CAPM and two factor model do not explain the average returns on portfolios.
- Subjects
INDIA; STOCK research (Finance); GROWTH stocks; STOCK exchanges; RATE of return; CAPITAL assets pricing model
- Publication
Journal of Contemporary Research in Management, 2015, Vol 10, Issue 4, p9
- ISSN
0973-9785
- Publication type
Article