Value vs. Glamour: A Global Phenomenon

67 Pages Posted: 10 Aug 2011

Multiple version iconThere are 3 versions of this paper

Date Written: December 1, 2010


In 1994, Josef Lakonishok, Andrei Shleifer, and Robert Vishny published a landmark study investigating the performance of value stocks relative to glamour securities in the United States over a 26-year period. Their research concluded that value stocks tended to outperform glamour stocks by wide margins. The Brandes Institute subsequently updated their work and extended the scope of the initial study to include non-U.S. markets to determine if the value premium was consistent across global markets. Now updated through June 2010, the study includes both the glamour-driven markets of the late 1990s and early 2000s, as well as the more recent worldwide economic downturn.

Keywords: Brandes, Brandes Institute, value investing, value vs glamour, value vs growth, value premium

JEL Classification: G10, G11, G12, G14, G15

Suggested Citation

Institute, Brandes, Value vs. Glamour: A Global Phenomenon (December 1, 2010). Brandes Institute Research Paper No. 2010-03. Available at SSRN: or

Brandes Institute (Contact Author)

Brandes Investment Partners ( email )

11988 El Camino Real, Suite 500
P.O. Box 919048
San Diego, CA 92191-9048
United States

Here is the Coronavirus
related research on SSRN

Paper statistics

Abstract Views
PlumX Metrics