A trillion-dollar industry is based on investing in or benchmarking to capitalization-weighted
indexes, even though the finance literature rejects the mean–variance efficiency of such …

Stock market phenomena such as the January and low pricelearnings ratio effects entice
investors with prospects of extraordinary returns. Most previous stock market anomaly …

Each year since 1983, Fortune magazine has published a survey featuring “America's most
admired” corporations. Although the most admired corporations are certainly worthy of some …

Abstract Why were Harry Markowitz and William Sharpe awarded the Nobel prize in
economics for their work on asset valuation? The normative or instrumental value of their …

According to conventional financial theory, competition among diverse investors and
arbitrage should keep stock prices close to their" fair" value. But a growing body of research …

This article questions the continued use and application of EVA®(economic value added)
because it is epistemologically a non-sequitur, fails to satisfy the requirements of sound …

The finance community has published thousands of articles about the size effect, the value
effect, and other “Fama-French factors.” But size is typically defined by market capitalization …

Institutional and private investors in stock markets insistently demand pricing models to
decide their strategies. We proposed an operational research (OR) model based on few …

In 1994, James Collins and Jerry Porras extolled the virtues of a selected group of visionary
companies in Built to Last. Whether these visionary companies are good of investments is …

Risk aversion is the basic nature of any investor so avoidance of any risky instruments in
their investment portfolios becomes inevitable. Equity, the riskiest instrument is normally not …