Abstract
The study demonstrates how size controls can alter the outlook of an investment strategy. The Ben Graham net current asset value rule provides excellent excess returns according to traditional performance measures. Size-adjustment procedures, however, reveal that its sizeadjusted excess return is approximately zero.
| Original language | American English |
|---|---|
| Pages (from-to) | 82-108 |
| Journal | Quarterly Journal of Business and Economics |
| Volume | 32 |
| Issue number | 1 |
| State | Published - 1993 |