haku: @author Zarowin, P. / yhteensä: 7
viite: 6 / 7
| Tekijä: | Zarowin, P. |
| Otsikko: | Does the stock market overreact to corporate earnings information? |
| Lehti: | Journal of Finance
1989 : DEC, VOL. 44:5, p. 1385-1399 |
| Asiasana: | STOCK MARKETS EARNINGS INFORMATION FINANCIAL PERFORMANCE |
| Kieli: | eng |
| Tiivistelmä: | It is tested whether the stock market overreacts to extreme earnings, by examining firms' stock returns over the 36 months subsequent to extreme earnings year. While the poorest earners outperform the best earners, the poorest earners are also significantly smaller than the best earners. When poor earners are matched with good earners of equal size, there is little evidence of differential performance. This suggests that size, and not investor overreaction to earnings, is responsible for the "overreaction" phenomenon. |
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