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- W2023761293 abstract "One of the enigmatic findings about the stock market overreaction effect is that it is ‘asymmetric.’ We argue that this apparent anomaly may be entirely illusory, resulting from the peculiar properties of returns. The test-period return on a contrarian portfolio is not always a satisfactory measure of the strength of price reversals. This also renders interportfolio comparisons about the symmetry of reversals more difficult. We develop an alternative measure, the Reversal Coefficient, which takes account of this deficiency. Some empirical corroboration is also provided." @default.
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- W2023761293 date "1996-01-01" @default.
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- W2023761293 title "Are stock price reversals really asymmetric? A note" @default.
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- W2023761293 doi "https://doi.org/10.1016/0378-4266(95)00028-3" @default.
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