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http://dspace.mediu.edu.my:8181/xmlui/handle/1721.1/1765Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.creator | Chan, Wesley | - |
| dc.creator | Frankel, Richard | - |
| dc.creator | Kothari, S.P. | - |
| dc.date | 2002-10-23T15:56:02Z | - |
| dc.date | 2002-10-23T15:56:02Z | - |
| dc.date | 2002-10-23T15:56:02Z | - |
| dc.date.accessioned | 2013-05-31T19:59:51Z | - |
| dc.date.available | 2013-05-31T19:59:51Z | - |
| dc.date.issued | 2013-06-01 | - |
| dc.identifier | http://hdl.handle.net/1721.1/1765 | - |
| dc.identifier.uri | http://koha.mediu.edu.my:8181/jspui/handle/1721 | - |
| dc.description | Models based on psychological biases can explain momentum and reversal in stock returns, but risk overfitting of theory to data. We examine a central psychological bias, representativeness, which underlies many behavioral-finance theories. According to this bias, individuals form predictions about future outcomes based on how closely past outcomes fit certain categories. To produce out-of sample tests, we use accounting performance to identify these categories and test the idea that investors misclassify firms and thus make biased forecasts. We find evidence of short-term accounting momentum, consistent with the idea that investors fail to immediately incorporate new information, but find no support for long-term reversal related to accounting performance. Contrary to theory, we find little evidence that the consistency of past accounting performance is related to future returns | - |
| dc.format | 303198 bytes | - |
| dc.format | application/pdf | - |
| dc.language | en_US | - |
| dc.relation | MIT Sloan School of Management Working Paper;4375-02 | - |
| dc.subject | Behavioral Finance | - |
| dc.subject | Behavioral-finance | - |
| dc.title | Testing Behavioral Finance Theories Using Trends and Sequences in Financial Performance | - |
| Appears in Collections: | MIT Items | |
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