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- W4211134865 endingPage "2133" @default.
- W4211134865 startingPage "2019" @default.
- W4211134865 abstract "Abstract Most anomalies fail to hold up to currently acceptable standards for empirical finance. With microcaps mitigated via NYSE breakpoints and value-weighted returns, 65% of the 452 anomalies in our extensive data library, including 96% of the trading frictions category, cannot clear the single test hurdle of the absolute $t$-value of 1.96. Imposing the higher multiple test hurdle of 2.78 at the 5% significance level raises the failure rate to 82%. Even for replicated anomalies, their economic magnitudes are much smaller than originally reported. In all, capital markets are more efficient than previously recognized. Received June 12, 2017; editorial decision October 29, 2018 by Editor Stijn Van Nieuwerburgh. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online." @default.
- W4211134865 created "2022-02-13" @default.
- W4211134865 creator A5027933789 @default.
- W4211134865 creator A5044757881 @default.
- W4211134865 creator A5066035235 @default.
- W4211134865 date "2018-12-10" @default.
- W4211134865 modified "2023-10-18" @default.
- W4211134865 title "Replicating Anomalies" @default.
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