Effect of Graham's share selection criteria on portfolio return in emerging markets: case of Malaysian share market

Nadisah Zakaria and Fariza Hashim

International Journal of Economics and Business Research, 2019, vol. 17, issue 3, 277-292

Abstract: Graham's model has been broadly investigated in diverse advanced share markets primarily in the USA and Europe as the companies are larger and established in sound economies. However, the selection criteria model is not prevalently examined in emerging countries, regardless of their fast economic growth and diversified sectors in stocks trading. For this reason, this study seeks to analyse the effect of Graham's stock selection criteria on the portfolio returns of the Malaysian stock market. Malaysia's has been recognised as one of the most rapidly growing markets in the Far East region; therefore, testing the market is essential and valid. The study found that notwithstanding its inception in the stock market, the Malaysian stock market was capable of proffering abnormal returns to investors, thus indicating that Graham's model of stock selection is certainly beneficial to investors.

Keywords: net current asset value; NCAV; Benjamin Graham; value investing; abnormal return; emerging countries. (search for similar items in EconPapers)
Date: 2019
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