为什么选A，不懂

问题如下：

Researchers have found that value stocks have consistently outperformed growth stocks. An investor wishing to exploit the value effect should purchase the stock of companies with above-average

选项：

A.

dividend yields

B.

market-to-book ratios

C.

price-to-earnings ratios

解释：

Higher than average dividend yield is a characteristic of a value stock, along with low price-to-earnings and low market-to-book ratios. Growth stocks are characterized by low dividend yields and high price-to-earnings and high market-to-book ratios