The value anomaly – higher average returns on value as opposed to growth stocks – is a robust phenomenon on equity markets around the world. This column argues that the exposure to downside market risk can explain why value stocks outperform their growth counterparts. The key is to distinguish between 'bad' and 'good' downside market shocks.
Most Read
Blogs&Reviews
Vox eBooks
Vox Talks
Events
-
18 - 19 June 2020 / Kuala Lumpur, Malaysia / The South East Asian Central Banks (SEACEN) Research and Training Centre
-
22 - 23 June 2020 / Ankara, Turkey / The Trade Policy Research Network, CEPR, Robert Schuman Centre for Advanced Studies, EUI, Florence and TEDU-TRC
-
7 - 8 July 2020 / Saint Petersburg, Russia / Bank of Russia
-
19 July - 8 August 2020 / Twickenham, London / University of Warwick
-
3 - 14 August 2020 / University of Oxford, UK / University of Oxford
