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Studies by Chan, Karceski, and Lakonishok (2003) and La Porta

Question 13

Multiple Choice

Studies by Chan, Karceski, and Lakonishok (2003) and La Porta, Lakonishok, Shleifer, and Vishny (1997) report that


A) the value premium is a manifestation of market irrationality.
B) the value premium is a rational risk premia.
C) the value premium is a statistical artifact found only in the U.S.
D) All of the options are correct.

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