haku: @journal_id 4452 / yhteensä: 26
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| Tekijä: | Akhigbe, A. Larson, S. J. Madura, J. |
| Otsikko: | Market Underreaction and Overreaction of Technology Stocks |
| Lehti: | Journal of Psychology and Financial Markets
2002 : VOL. 3:3, p. 141-151 |
| Asiasana: | MARKETS STOCKS SHARE PRICES ANALYTICAL REVIEW |
| Kieli: | eng |
| Tiivistelmä: | Several studies have assessed stock market under- or overreaction of stocks and there is some agreement among them. However, there is much disagreement about what constitutes market underreaction or overreaction, and the conditions that cause it. The substantial variation in results among studies may be partially attributed to the types of firms that are contained in any sample. The authors investigate this premise by focusing on a sample of technology stocks that experienced an extreme change in stock price, along with a corresponding control sample of non-technology stocks that experienced a similar extreme change in stock price on the same day. The authors find a greater degree of overreaction within extreme positive changes in technology stock prices (winners) than in non-technology stock prices. |
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