Individual investors trading and performance around earnings announcements of volatile and short-sale constraint stocks
- INDIVIDUAL INVESTORS ARE REPEATEDLY FOUND TO UNDERPERFORM RELATIVE TO A MARKET INDEX. BESIDES EXCESSIVE TRADING, LITTLE IS KNOWN WHEN RETAIL INVESTORS COLLECTIVELY LOSE. THIS ARTICLE SHOWS THAT TRADING IN SHORT-SELLING CONSTRAINED, VOLATILE STOCKS AROUND EARNINGS ANNOUNCEMENTS IS COSTLY TO INDIVIDUAL INVESTORS. THE EFFECT IS PARTICULARLY PRONOUNCED FOR LESS SOPHISTICATED INVESTORS.
| Author: | Thomas Etheber, Dominik Hennen, Tilman Rochow, Andreas HackethalORCiDGND, Steffen MeyerORCiDGND |
|---|---|
| URN: | urn:nbn:de:hebis:30:3-579283 |
| ISSN: | 1866-1238 |
| Parent Title (English): | EFL quarterly : an E-Finance Lab publication |
| Publisher: | E-Finance Lab e.V. |
| Place of publication: | Frankfurt am Main |
| Document Type: | Article |
| Language: | English |
| Year of Completion: | 2012 |
| Year of first Publication: | 2012 |
| Publishing Institution: | Universitätsbibliothek Johann Christian Senckenberg |
| Release Date: | 2021/01/28 |
| Volume: | 2012 |
| Issue: | 4 |
| Page Number: | 2 |
| First Page: | 4 |
| Last Page: | 5 |
| HeBIS-PPN: | 477218652 |
| Institutes: | Angeschlossene und kooperierende Institutionen / E-Finance Lab e.V. |
| Dewey Decimal Classification: | 3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft |
| Sammlungen: | Universitätspublikationen |
| Licence (German): |  Deutsches Urheberrecht |
