A Sobre-Reação do Mercado à Informação Intangível

Autor:	Carlos Marcelo Lauretti, Eduardo Kazuo Kayo, Emerson Fernandes Marçal
Rok vydání:	2009
Předmět:	Index (economics) Financial economics Investment strategy Phenomenon Economics Capital asset pricing model General Medicine Proxy (statistics)
Zdroj:	Brazilian Review of Finance. 7:215
ISSN:	1984-5146 1679-0731
DOI:	10.12660/rbfin.v7n2.2009.1257
Popis:	Academic studies have shown that returns show reversion effects, which has often been explained as market overreaction to firms past performance. Other studies have shown that future returns are positively related to book-to-market index (B/M), which has been suggested as a proxy for risk factors omitted by CAPM classic model. Both evidences have been widely used in investment strategies. More recent studies in the U.S. market showed that these observations stem from the same phenomenon: the overreaction to the intangible information, that is, information that is not present in accounting performance statements
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::b850e286813331e918450e5784937f24 https://doi.org/10.12660/rbfin.v7n2.2009.1257 Zobrazit plný text záznamu Plný text ve formátu PDF