The market impact of trends and sequences in performance: New evidence

被引：29

作者：

Durham, GR ^{[1
]}

Hertzel, MG

Martin, JS

机构：

[1] Montana State Univ, Coll Business, Bozeman, MT 59717 USA

[2] Arizona State Univ, WP Carey Sch Business, Tempe, AZ 85287 USA

来源：

JOURNAL OF FINANCE | 2005年 / 60卷 / 05期

关键词：

D O I：

10.1111/j.1540-6261.2005.00807.x

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Bloomfield and Hales (2002) find strong evidence that experimental market subjects are influenced by trends and patterns in a manner supportive of the shifting regimes model of Barberis, Shleifer, and Vishny (1998). We subject the model to further empirical scrutiny using the football wagering market as our price laboratory. Sports betting markets have several advantages over traditional capital markets as an empirical setting, and commonalities with traditional markets allow for useful insights. We find scant evidence that investors behave in accordance with the model.

引用

页码：2551 / 2569

页数：19

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