Who Underreacts to Cash-Flow News? Evidence from Trading between Individuals and Institutions
收藏NBER2002-02-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w8793
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资源简介：
A large body of literature suggests that firm-level stock prices 'underreact' to news about future cash flows, i.e., shocks to a firm's expected cash flows are positively correlated with shocks to expected returns on its stock. We estimate a vector autoregession to examine the joint behavior of
提供机构：
美国国家经济研究局
创建时间：
2002-02-01
