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| Tekijä: | Barberis, N. Shleifer, A. Wurgler, J. |
| Otsikko: | Comovement |
| Lehti: | Journal of Financial Economics
2005 : FEB, VOL. 75:2, p. 283-317 |
| Asiasana: | Index-linked securities Financial market trading Stocks |
| Kieli: | eng |
| Tiivistelmä: | This article distinguishes two views of stock return comovement. The first view is a more traditional one, which is based on news about fundamental value. The second is an alternative view in which frictions or sentiment delinks it from fundamentals. The findings from the study cannot easily be explained by the fundamentals-based view and provide new evidence in support of the alternative sentiment-based view. |
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