NO.PZ2024022701000073
问题如下：
The value effect market-pricing anomaly most likely occurs when stocks that have below-average price-to-earnings and market-to-book ratios, as well as above-average dividend yields, consistently outperform:选项：
A.large-cap stocks. B.growth stocks. C.stocks that have had negative earnings surprises.解释：
Solution-
Incorrect. It is the size effect, not the value effect, that compares returns with respect to large-cap stocks.
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Correct. The value effect occurs when value stocks, which are generally referred to as stocks that have below-average price-to-earnings and market-to-book ratios, as well as above-average dividend yields, outperform growth stocks consistently and for long periods.
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Incorrect. Value effect does not compare stocks on the basis of earnings surprises. It is the “earnings surprise” anomaly that compares companies on the basis of the unexpected part of the earnings announcement.
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如题
