search query: @freeterm underreaction / total: 2
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| Author: | Bloomfield, R. Hales, J. |
| Title: | Predicting the next step of a random walk: experimental evidence of regime-shifting beliefs |
| Journal: | Journal of Financial Economics
2002 : SEP, VOL. 65:3, p. 397-414 |
| Index terms: | Financial management Market research |
| Freeterms: | Market inefficiency Regime shifting Investor sentiment Underreaction Overreaction Postearnings-announcement drift |
| Language: | eng |
| Abstract: | The authors report two experiments with MBA-student participants that stronly support the existence of regime-shifting beliefs. They conclude that regime-shifting models can provide a useful framework for understanding market anomalies, including underreactions to earnings changes and overreactions to longterm earnings trends. |
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