The Effectiveness of the Low Multiples Strategy on the Russian Stock Market

Student: Bratsilo Roman

Supervisor: Elena V. Chirkova

Educational Programme: Strategic Corporate Finance (Master)

Year of Graduation: 2017

This Master's thesis study the effectiveness of a strategy of investing in stocks with low multiples. At present, there is a lot of research on this topic. All of them argue that using this strategy it is possible to get a return above the market. In this thesis, the effectiveness of such a strategy in the Russian market is investigated. An empirical model is used for the study. The results indicate that the application of a strategy of investing in stocks with low multiples allows earning a return above the market. In addition, the application of this strategy during the fall of the stock market would also allow earning a positive return.

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