STOCK RETURNS, AGGREGATE EARNINGS SURPRISES, AND BEHAVIORAL FINANCE
We study the stock market reaction to aggregate earnings news. Previous research shows that, for individual firms, stock prices react positively to earnings news but require several quarters to fully reflect the information in earnings. We find that the relation between returns and earnings is su...
| Main Authors: | , , |
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| Format: | Working Paper |
| Language: | en_US |
| Published: |
2003
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| Online Access: | http://hdl.handle.net/1721.1/1829 |