Advances in Economics, Management and Political Sciences
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Advances in Economics, Management and Political Sciences
Series Vol. 78 , 18 April 2024
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A Review of Empirical Analysis in Value Investing
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Abstract
Value investing refers to investing in stocks by focusing on the intrinsic value of the business rather than the price. It generally pays attention to two major values of the enterprise, one is to estimate the liquidation value of the enterprise, and the other is to focus on the growth value of the enterprise. When value investing first emerged in the 1920s, insider knowledge and conjecture served as the primary sources of guidance for investors. The first logical foundation for investing decisions was established by its introduction. Since Graham put forward the theory of value investment, foreign research has made great progress, while domestic research has been controversial in practice due to the short history of the securities market and the late start of research, which forces many investors to study, practice and explore. Nowadays, a substantial body of scholarly empirical research on value investing has been published. This paper examines and updates this body of work, go over the many theories explaining the performance of value investing, examine the empirical studies supporting these theories, and offer some fresh findings derived from an updated and enlarged sample. At the end of the article, researchers also point out the gaps in the research and the problems for further discussion.
Keywords
Value Investing, Backtesting, Risk Factors
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 3rd International Conference on Business and Policy Studies
- ISBN (Print)
- 978-1-83558-379-1
- ISBN (Online)
- 978-1-83558-380-7
- Published Date
- 18 April 2024
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/78/20241651
- Copyright
- 18 April 2024
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited