STOCK RETURNS, AGGREGATE EARNINGS SURPRISES, AND BEHAVIORAL FINANCE

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...

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Bibliographic Details
Main Authors:	Kothari, S.P., Lewellen, Jonathan, Warner, Jerold
Format:	Working Paper
Language:	en_US
Published:	2003
Online Access:	http://hdl.handle.net/1721.1/1829

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