The Mysterious Growing Value of S&P 500 Membership
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The efficient markets hypothesis implies that passive indexing should generate as high a return as active fund management. Indexing has been a very successful strategy. We document a large value premium in the average q ratios of firms in the S&P 500 index relative to the q ratios of other similar
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美国国家经济研究局创建时间：
2001-12-01
