Earnings Surprises, Investor Sentiments and Contrarian Strategies

This study documents that contrarian investment strategies offer superior returns because these strategies exploit investors’ expectation errors. There are two sources of expectation errors, naïve extrapolation of past performance and biased analysts’ earnings forecasts. Our results suggest that inv...

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Podrobná bibliografie
Hlavní autoři:	Liping Zou, Ruishan Chen
Médium:	Článek
Jazyk:	English
Vydáno:	EconJournals 2017-03-01
Edice:	International Journal of Economics and Financial Issues
Témata:	contrarian strategy value and glamour stocks earnings surprise investor sentiments
On-line přístup:	https://dergipark.org.tr/tr/pub/ijefi/issue/32002/353166?publisher=http-www-cag-edu-tr-ilhan-ozturk