Style migration in Europe

Broussard, John Paul, Mikkonen, Jussi and Puttonen, Vesa (2016) Style migration in Europe. European Financial Management . ISSN 1468-036X [Article] (Published online first) (doi:10.1111/eufm.12083)

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This paper complements the literature on style migration by examining value and size premiums throughout Europe. Information from more than 25 European markets indicates an average value premium of 9.58% per year. The primary determinants of the persistent value outperformance are: 1) value firms migrating to a neutral or growth portfolio, and 2) growth stocks migrating to neutral or value portfolios. The financial health metric F_SCORE helps uncover outperforming stocks ex ante, and provides preliminary evidence on the probability of migration, but only for small stocks.

Item Type: Article
Additional Information: Article first published online: 21 JAN 2016
Research Areas: A. > Business School > Accounting and Finance
Item ID: 19685
Notes on copyright: Attached full text: This is the peer reviewed version of the following article: Broussard, J. P., Mikkonen, J. and Puttonen, V. (2016), Style Migration in Europe. European Financial Management. doi: 10.1111/eufm.12083, which has been published in final form at This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving (
Depositing User: Bernadett Dunn
Date Deposited: 03 May 2016 10:49
Last Modified: 29 Nov 2022 22:11

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