Value vs Growth
If ones decomposes the driver of value or growth what will find is that it is all about price. the fundamentals change very slow and by small amounts. here is a good academic paper that analyzes this link: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2083166
In other words, value was driven mainly by long-term (>5years) price mean-reversion. the reason for the underperformance over the last decade(s) is that long-term price reversals have not worked.
this paper as well https://www.q-group.org/wp-content/uploads/2014/01/Linnainmaa-Dissecting-Factors.pdf