Belief Overreaction and Stock Market Puzzles
收藏NBER2020-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w27283
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资源简介：
We construct an index of long term expected earnings growth for S&P500 firms and show that it has remarkable power to jointly predict errors in these expectations and stock returns, in both the aggregate market and the cross section. The evidence supports a mechanism whereby good news cause
提供机构：
美国国家经济研究局
创建时间：
2020-06-01
