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Cited by 1,354

The DOI matches its OpenAlex record; 1 of the 1 references it cites were found in a registry or an index.

Contrarian Investment, Extrapolation, and Risk

Open access
Josef Lakonishok, Andrei Shleifer, Robert W. Vishny·1994·The Journal of Finance
DOI 10.2307/2329262
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Abstract

For many years, scholars and investment professionals have argued that value strategies outperform the market. These value strategies call for buying stocks that have low prices relative to earnings, dividends, book assets, or other measures of fundamental value. While there is some agreement that value strategies produce higher returns, the interpretation of why they do so is more controversial. This article provides evidence that value strategies yield higher returns because these strategies exploit the suboptimal behavior of the typical investor and not because these strategies are fundamentally riskier.

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OpenAlex · 10.2307/2329262

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Metadata

Authors
Lakonishok, J., Shleifer, A., & Vishny, R. W.
Venue
The Journal of Finance
Publisher
Wiley
Published
1994-12-01
Volume
49
Issue
5
Pages
1541-1541
ISSN
0022-1082 (ISSN-L)
DOI
10.2307/2329262
OpenAlex
W1967872601
Cited by
1,354
References
1
FWCI
20.24
Type
journal article
Language
en
Open access
bronze

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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.