Half a century of research on Value Line: a comprehensive review

Purpose - The purpose of this paper is to present a comprehensive review of literature on Value Line. First, the authors summarize the literature examining the Value Line enigma. Second, the authors survey the literature on Value Line's other valuation metrics. Finally, literature comparing Value Line's database to other tradition data sources is presented. Design/methodology/approach - Approximately 60 academic articles published from 1967 to 2015 on Value Line are systematically reviewed and analyzed. Findings - Despite extensive research, empirical evidence on the Value Line enigma remains less than conclusive. Empirical evidence suggests that Value Line's other metrics are useful and efficacious. In terms of forecast accuracy and consistency, evidence seems to suggest that Value Line Investment Survey database is as good as other databases. Originality/value - Academic research on Value Line began over half a century ago and is extensive; however, a comprehensive review of previous work is non-existent. This paper fills that gap in the literature and presents a comprehensive review of academic literature on Value Line.