de Oliveira Souza, Thiago - Institut for Virksomhedsledelse og Økonomi, Syddansk … - 2014
The average year-end size premium is significant only when the beginning-of-year aggregate (median) book-to-market is high (top 10% to 20% in historical terms). This helps to explain why empirical research based on different time periods finds conflicting results regarding the existence of the...