Research

Net-Nets

  1. An, Chongsoo, John J. Cheh, and Il-woon Kim. “Testing Benjamin Graham’s net current asset value model.” Journal of Economic & Financial Studies 3.01 (2015): 63-73. [PDF] journalofeconomics.org
  2. Bildersee, John S., John J. Cheh, and Ajay Zutshi. “The performance of Japanese common stocks in relation to their net current asset values.” Japan and the World Economy 5.3 (1993): 197-215.
  3. Carlisle, Tobias, Sunil Mohanty, and Jeffrey Oxman. “Ben Graham’s Net Nets: Seventy-Five Years Old and Outperforming.” (2010). [PDF] valuewalk.com
  4. Dudzinski, Jonathan, and Robert A. Kunkel. “Ben Graham’s NCAV (net current asset value) technique in the 21st century.” The Journal of Investing 23.1 (2014): 17-26.
  5. Greenblatt, Joel M., Richard Pzena, and Bruce L. Newberg. “How the small investor can beat the market.” The Journal of Portfolio Management 7.4 (1981): 48-52.
  6. Hongnan, Qu. “A test of Graham’s stock selection criteria: empirical evidence from Shenzhen stock exchange.” (2013).
  7. Klerck, W. G., and A. C. Maritz. “A test of Graham’s stock selection criteria on industrial shares traded on the JSE.” Investment Analysts Journal 26.45 (1997): 25-33. [PDF] typepad.com
  8. Lauterbach, Beni, and Joseph D. Vu. “Ben Graham’s net current asset value rule revisited: the size-adjusted returns.” Quarterly Journal of Business and Economics (1993): 82-108. [PDF] biu.ac.il
  9. Oliemans, F. “On the persistence of a market anomaly: the performance of the net current asset value strategy in the United States, 1984-2008.” (2009).
  10. Oppenheimer, Henry R. “A test of Ben Graham’s stock selection criteria.” Financial Analysts Journal 40.5 (1984): 68-74.  [PDF] researchgate.net
  11. Oppenheimer, Henry R. “Ben Graham’s Net Current Asset Values: A Performance Update.” Financial Analysts Journal, vol. 42, no. 6, 1986, pp. 40–47. JSTOR, JSTOR, www.jstor.org/stable/4478980.   [PDF] csinvesting.org
  12. Oxman, Jeffrey and Mohanty, Sunil and Carlisle, Tobias Eric, “Deep Value Investing and Unexplained Returns” (September 16, 2011). Midwest Finance Association 2012 Annual Meetings Paper. Available at SSRN: https://ssrn.com/abstract=1928694 or http://dx.doi.org/10.2139/ssrn.1928694
  13. Rachmattulah, Mohammad Fahmi, and Faturrohman, Taufik. “THE IMPLEMENTATION OF BENJAMIN GRAHAM CRITERIA (A CASE IN INDONESIA MARKET).” JOURNAL OF BUSINESS AND MANAGEMENT Vol. 5, No. 6, 2016: 773-782. [PDF]
  14. Sareewiwatthana, Paiboon, and Patarapon Janin. “TESTS OF QUANTITATIVE INVESTING STRATEGIES OF FAMOUS INVESTORS: CASE OF THAILAND.” (2017). [PDF] businessperspectives.org
  15. Singh, Jaspal, and Kiranpreet Kaur. “Testing the Performance of Graham’s Net Current Asset Value Strategy in Indian Stock Market.” Asia-Pacific Journal of Management Research and Innovation 9.2 (2013): 171-179. https://doi.org/10.1177/2319510X13504288
  16. Terzi, Nuray. “An Assessment on Graham’s Approach for Stock Selection: The Case of Turkey.” International Journal of Financial Research 7.1 (2015): 50. [PDF] researchgate.net
  17. Tonca, Theodor, “Net-Net Number: Implications & Conclusions” (September 24, 2013). Available at SSRN: https://ssrn.com/abstract=2339319
  18. Vu, J., 1988, An Empirical Analysis of Ben Graham’s Net Current Asset Value Rule, Financial Review, 23, 215-225.  https://doi.org/10.1111/j.1540-6288.1988.tb00787.x
  19. Ying, Xiao, and Arnold, Glen, “Testing Benjamin Graham’s Net Current Asset Value Strategy in London.” Available at SSRN: https://ssrn.com/abstract=966188 or http://dx.doi.org/10.2139/ssrn.966188
  20. Zakaria, Nadisah, and Fariza Hashim. “Emerging Markets: Evaluating Graham’s Stock Selection Criteria on Portfolio Return in Saudi Arabia Stock Market.” International Journal of Economics and Financial Issues 7.2 (2017): 453-459. [PDF] dergipark.gov.tr

 

Other

  1. Beneish, Messod Daniel and Nichols, Craig and Lee, Charles M.C., To Catch a Thief: Can Forensic Accounting Help Predict Stock Returns? (July 27, 2011). Available at SSRN: https://ssrn.com/abstract=1903593 or http://dx.doi.org/10.2139/ssrn.1903593
  2. Everhart, Lloyd Edward, The Village of Alpha: An Empirical Analysis of the Super Investors of Graham-and-Doddsville (March 2, 2018). Available at SSRN: https://ssrn.com/abstract=3133081 or http://dx.doi.org/10.2139/ssrn.3133081
  3. Graham, Benjamin. “The future of common stocks.” Financial Analysts Journal 30.5 (1974): 20-30.  [PDF] safaIniveshak.com
  4. Gray, Wesley and Kern, Andrew (2008): Fundamental Value Investors: Characteristics and Performance. here
  5. Hirshleifer, David A. and Hou, Kewei and Teoh, Siew Hong and Zhang, Yinglei, Do Investors Overvalue Firms with Bloated Balance Sheets? (February 2004). EFA 2004 Maastricht Meetings Paper No. 3233; Dice Center Working Paper No. 2004-18. Available at SSRN: https://ssrn.com/abstract=404120 or http://dx.doi.org/10.2139/ssrn.404120
  6. Ikenberry, David, Josef Lakonishok, and Theo Vermaelen. “Market underreaction to open market share repurchases.” Journal of financial economics 39.2-3 (1995): 181-208.  [PDF] columbia.edu
  7. Kahneman, Daniel, and Amos Tversky. “Prospect theory: An analysis of decision under risk.” Handbook of the fundamentals of financial decision making: Part I. 2013. 99-127.
  8. Lakonishok, Josef, Andrei Shleifer, and Robert W. Vishny. “Contrarian investment, extrapolation, and risk.” The journal of finance 49.5 (1994): 1541-1578. [PDF] harvard.edu
  9. Piotroski, Joseph D. “Value investing: The use of historical financial statement information to separate winners from losers.” Journal of Accounting Research (2000): 1-41. [PDF] free.fr
  10. Porta, Rafael La, et al. “Good news for value stocks: Further evidence on market efficiency.” The Journal of Finance 52.2 (1997): 859-874.  [PDF] harvard.edu
  11. Sloan, Richard G. “Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings?” The Accounting Review, vol. 71, no. 3, 1996, pp. 289–315. JSTOR, JSTOR, http://www.jstor.org/stable/248290.

 

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