| dc.contributor.author | LaPorta, Rafael | |
| dc.contributor.author | Lakonishok, Josef | |
| dc.contributor.author | Shleifer, Andrei | |
| dc.contributor.author | Vishny, Robert | |
| dc.date.accessioned | 2017-03-08T20:51:33Z | |
| dc.date.issued | 1997 | |
| dc.identifier.citation | LaPorta, Rafael, Josef Lakonishok, Andrei Shleifer, and Robert Vishny. 1997. Good News for Value Stocks: Further Evidence on Market Efficiency. Journal of Finance 52, no. : 859-874. doi: 10.1111/j.1540-6261.1997.tb04825.x | en_US |
| dc.identifier.issn | 0022-1082 | en_US |
| dc.identifier.uri | http://nrs.harvard.edu/urn-3:HUL.InstRepos:30725119 | |
| dc.description.abstract | This paper examines the hypothesis that the superior return to so-called value stocks is the result of expectational errors made by investors. We study stock price reactions around earnings announcements for value and glamour stock over a 5 year period after portfolio formation. The announcement returns suggest that a significant portion of the return difference between value and glamour stocks is attributable to earnings surprises that are systematically more positive for value stocks. The evidence is inconsistent with a risk-based explanation for the return differential. | en_US |
| dc.description.sponsorship | Economics | en_US |
| dc.language.iso | en_US | en_US |
| dc.publisher | Wiley-Blackwell | en_US |
| dc.relation.isversionof | 10.1111/j.1540-6261.1997.tb04825.x | en_US |
| dash.license | LAA | |
| dc.title | Good News for Value Stocks: Further Evidence on Market Efficiency | en_US |
| dc.type | Journal Article | en_US |
| dc.description.version | Accepted Manuscript | en_US |
| dc.relation.journal | Journal of Finance | en_US |
| dash.depositing.author | Shleifer, Andrei | |
| dc.date.available | 2017-03-08T20:51:33Z | |
| dc.identifier.doi | 10.1111/j.1540-6261.1997.tb04825.x | * |
| dash.contributor.affiliated | Shleifer, Andrei | |
