DOAJ Open Access 2014

A study on relationship between the return of value/growth portfolio and market return: Evidence from Tehran Stock Exchange

Monireh Mashhadi Ramezanali Mohammadreza Setayesh Mohammad Hassan Janani

Abstrak

This study examines the relationship between the returns of two value and growth portfolios and the return of market on 15 selected firms on Tehran Stock Exchange over the period 2008-2011. The study divides the firms into two groups in terms of the ratios of price on earning as well as price on book value into two groups of value and growth portfolios. Using some regression analysis, the study has determined a positive and meaningful relationship between value portfolio and market return when the market is on the upside but this relationship is not meaningful during the bear session. The results indicate that during the bull sessions, value portfolios provide better investment opportunities than growth ones do.

Topik & Kata Kunci

Business records management

Penulis (3)

Monireh Mashhadi Ramezanali

Mohammadreza Setayesh

Mohammad Hassan Janani

Format Sitasi

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Ramezanali, M.M., Setayesh, M., Janani, M.H. (2014). A study on relationship between the return of value/growth portfolio and market return: Evidence from Tehran Stock Exchange. https://doi.org/10.5267/j.msl.2014.6.013

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Informasi Jurnal

Tahun Terbit: 2014
Sumber Database: DOAJ
DOI: 10.5267/j.msl.2014.6.013
Akses: Open Access ✓