Stock Market Overreaction and Fundamental Valuation

Stock Market Overreaction and Fundamental Valuation

4.11 - 1251 ratings - Source

Does the stock market overreact? Recent capital market turbulences have cast doubt whether the behaviour of stock markets is in line with rational investor behaviour. This book investigates recent evidence of reversals in the cross section of stock returns. The surprising finding of this monograph is that reversals in stock returns are parallelled by movements in fundamentals. Outperformance in the stock market is driven by outperformance in corporate earnings. This monograph analyses this effect and provides background reasoning both from a theoretical and from an empirical point of view. The reader will pursue the question whether capital markets are efficient and thereby obtain a deeper understanding of the relationship between stock returns and underlying fundamentals.(Thomas Kuhn)5a#39; The winner-loser effect is an anomaly in the stock market: Stocks which have un- derperformed the market (the aquot;loseraquot; stocks) outperform the market subsequently. Stocks which have outperformed the market (the aquot; winneraquot;anbsp;...

Title:Stock Market Overreaction and Fundamental Valuation
Author: Matthias Külpmann
Publisher:Springer Verlag - 2002

You must register with us as either a Registered User before you can Download this Book. You'll be greeted by a simple sign-up page.

Once you have finished the sign-up process, you will be redirected to your download Book page.

How it works:
  • 1. Register a free 1 month Trial Account.
  • 2. Download as many books as you like (Personal use)
  • 3. Cancel the membership at any time if not satisfied.

Click button below to register and download Ebook
Privacy Policy | Contact | DMCA