NBIM Discussion Note on the Value Effect
NBIM Discussion Note 5 December 2012
Norges Bank Investment Management (NBIM) has in a discussion note published today reviewed the theory and empirical evidence of the so-called value effect. The value effect is the tendency of value stocks to generate higher returns over time than growth stocks.
The note is part of a series of discussion notes on topics of relevance to the long-term investment strategy of the Government Pension Fund Global.