Journal of Business & Financial Affairs

George Athanassakos

Publications

• Research Article
  Using Historical Financial Statements to Separate Winning from Losing Value Stocks in Canada: Interlisted Vs. Non-Interlisted Stocks
  Author(s): George AthanassakosGeorge Athanassakos
  
  The purpose of this paper is two-fold. First, to determine whether there is value premium in our sample of Canadian non-interlisted and interlisted stocks for the period May 1, 1985-April 30, 2010. Second, to examine whether an additional screening to the first step of the value investing process can be employed to separate the good value stocks from the bad ones. For both non-interlisted and interlisted stocks, we document a consistently strong value premium over the sample period, which persists in both bull and bear markets, as well as in recessions and recoveries for noninterlisted stocks, but less so for interlisted stocks. We show that the value premium is not driven by a few outliers, but it is pervasive. Interlisted stocks have a higher value premium than non-interlisted stocks. The other difference between interlisted and non-interlisted firms is with regards to stock liquidi.. Read More»
  DOI: 10.4172/2167-0234.1000106

  Abstract PDF