Value Line Rank and Firm Size

Gur Huberman and Shmuel Kandel

The Journal of Business, 1987, vol. 60, issue 4, 577-89

Abstract: This paper studies the relation between Value Line's successful record in predicting relative stock-price movements and the firm size effect. The data suggest little direct relation between the two phen omena. Value Line tends not to rank small-firm stocks, and small-firm stocks that are ranked are more likely to receive a low rank than la rge-firm stocks. Within each size-sorted quintile of the market, the mean payoffs on costless positions constructed according to Value Lin e's recommendations are positive. Copyright 1987 by the University of Chicago.

Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:ucp:jnlbus:v:60:y:1987:i:4:p:577-89

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