The Comparison between the Return of Different Methods of Selecting the Value and Growth Stocks in Tehran Stock Exchange
Journal Title: Journal of Science and today’s world - Year 2014, Vol 3, Issue 4
Abstract
The optimal investment requires good investment strategy and taking advantage of them and changing them according to alternative conditions. Growth investment and value investment are the strategies used by investors and professional managers. In this study, one, two and three years of growth and value portfolios over the period 2005 to 2011 using information from 87 companies and the ratio P/E, P/S, P/B and double and triple combination ratios of them were formed and two types of portfolioadjusted returns using independent samples t-test were compared. Results showed that investment in value stock provides better performance than growth investment according to portfolios formed by P/S in one, two and three year portfolios; P/B in three-year portfolios; combination ratios of P/S and P/B in two and three-year portfolios and combination ratios of P/E, P/S and P/B in three-year portfolios.
Authors and Affiliations
Maryam Sabziyan ,Mohammad Reza Setayesh, Ahmad Charmian
Keywords
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