Why are P/B ratio and small company effect effective market anomalies?

Because of the ability to predict abnormal risks, the income is adjusted. P/B ratio and small company effect are effective market anomalies released by relevant personnel, because they can predict abnormal risk-adjusted returns. Market value refers to the total value of shares issued by listed companies at market prices, and its calculation method is that the market price per share is multiplied by the total number of issued shares.