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- W1991749216 abstract "Our objective is to investigate the short-term over- or underreaction of six U.S. stock market indexes. We find evidence of a one-day underreaction for winners (days on which an index experiences abnormally high returns) and losers (days on which an index experiences abnormally poor performance). We also find strong evidence of a sixty-day underreaction for winners. For losers, abnormal returns turn from negative to positive as the period is extended, resulting in significant reversals over the sixty-day period. Results are generally consistent for each of the six indexes. Overall, these results provide strong support for the uncertain information hypothesis. JEL classification: G14" @default.
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- W1991749216 date "2001-06-01" @default.
- W1991749216 modified "2023-10-16" @default.
- W1991749216 title "DO U.S. STOCK MARKET INDEXES OVER- OR UNDERREACT?" @default.
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- W1991749216 doi "https://doi.org/10.1111/j.1475-6803.2001.tb00764.x" @default.
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