Banz's research on the small firm effect was criticized because
A)the stocks were too small.
B)it was highly influenced by a depression and a major war.
C)the stocks were too large.
D)it was highly influenced by inflation and a devaluation of the dollar.

Question

Quizplus · Accepted Answer

Some criticized Banz for using only NYSE firms in his analysis, and for using a time period that included the effects of both a depression and a major war.

Banz's Research on the Small Firm Effect Was Criticized Because