The weak value-growth premium of the Spanish stock market highlights the importance of enhancing the accounting-based fundamental strength of the value-growth strategy. This accounting strength is needed to detect potential errors in market expectations that result in mispriced stocks. When we...

Previous evidence has demonstrated that the momentum effect is present in the Spanish stock market, and that it can not bee explained neither by the CAPM nor the Fama amp; French (1993) three factor model. The aim of this paper is to deepen in the possible explanations of such phenomenon by...

One of the most important topics in financial literature is the market efficiency hypothesis. In the last couple of decades, most studies have questioned this hypothesis and several authors have shown that the contrarian strategy, or the forming of a zero-investment portfolio that buys the...