n Investment Analysts Journal - The low price effect on the Johannesburg Stock Exchange
|Article Title||The low price effect on the Johannesburg Stock Exchange|
|© Publisher:||Taylor & Francis|
|Journal||Investment Analysts Journal|
|Author||K. Waelkens and M. Ward|
|Publication Date||Jan 1997|
ISI Social Science
Extracted from text ... Number 45 - Part 4 K Waelkens and M Ward* The low price effect on the Johannesburg Stock Exchange * Faculty of Management, University of the Witwatersrand, PO Box 98, Wits 2050, Republic of South Africa. Introduction Research in several financial markets has shown that low priced shares significantly outperform high priced shares on a risk-adjusted return basis. This phenomenon is referred to as the "low price effect". Furthermore, this effect has been shown to exist over and above the "small business effect" and the "earnings yield" effect. The existence of the low price effect was alluded to in research ..
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