OVERREACTION IN THE SPANISH EQUITY MARKET

被引：24

作者：

ALONSO, A

RUBIO, G

机构：

[1] Institute de Economia Pública, Universidad del Pais Yasco

来源：

JOURNAL OF BANKING & FINANCE | 1990年 / 14卷 / 2-3期

关键词：

D O I：

10.1016/0378-4266(90)90060-F

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper examines the overreaction hypothesis within the Spanish capital market. The hypothesis is clearly accepted even after correcting for size when estimating excess returns. Twelve months after portfolio formation, losers win 24.5% more than winners. There is also a correspondence between excess returns and changes in the earnings pattern of losers and winners firms. © 1990.

引用

页码：469 / 481

页数：13

共 11 条

[1] THE RELATIONSHIP BETWEEN EARNINGS YIELD, MARKET VALUE AND RETURN FOR NYSE COMMON-STOCKS - FURTHER EVIDENCE [J].