Assefa, Tibebe Abebe; Esqueda, Omar A; Galariotis, Emilios C - In: Review of Accounting and Finance 13 (2014), pp. 310-325
Purpose –The purpose of this paper is to assess the performance of a contrarian investment strategy focusing on frequently traded large-cap US stocks. Previous criticisms that losers’ gains are not due to overreaction but due to their tendency to be thinly traded and smaller-sized firms than...