Global ETD Search
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Showing 1 to 2 of 2 for “"delayed overreaction"”.
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Two Essays on Momentum and Reversals in Stock Returns
… as evidence that momentum results from delayed overreaction to information. I examine momentum and reversals conditional on firms’ share issuance (net of repurchases) during the momentum holding period and show that (1) among losers, the momentum returns are statistically significant, …
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Essays in International Economics and Macroeconomics
… In particular, this model can generate the delayed overreaction in firms' expectations documented in the literature. Moreover, strategic complementarity between firms and the resulting higher-order optimism further strengthen my mechanism. Finally, I distinguish empirically my rational …