@article {Arshanapalli15, author = {Bala G Arshanapalli and T. Daniel Coggin and William B Nelson}, title = {The January Effect and the Global Value-Growth Premium}, volume = {11}, number = {4}, pages = {15--26}, year = {2002}, doi = {10.3905/joi.2002.319520}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Here are important findings on abnormal returns for value stocks and the January effect, two challenges to the efficient market model. There is a January effect on the value-growth spread in the U.S. for both large- and small-capitalization stocks for the period 1975{\textendash}2001. Use of four different benchmark indexes adds robustness to this result. Examination of five major non-U.S. markets{\textemdash}EuroPacific, France, Germany, Japan, and the U.K.{\textemdash}reveals a January effect in the large-cap value-growth spread for three markets (France, Germany, and U.K.) and in the small-cap value-growth spread for all five markets.}, issn = {1068-0896}, URL = {https://joi.pm-research.com/content/11/4/15}, eprint = {https://joi.pm-research.com/content/11/4/15.full.pdf}, journal = {The Journal of Investing} }