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Do individual investors learn from their trading experience
Nicolosi, Gina; Peng, Liang - Econometric Society - 2004
This paper investigates whether individual investors adjust their stock trading according to their stock selection … abilities, which can be inferred from their trading history. Fixed-effect panel regressions provide strong evidence that the … ability to forecast future stock returns significantly affects investors’ trading activity: investors purchase more actively …
Persistent link: https://www.econbiz.de/10005130195
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Asymmetric Information, Stock Returns and Monetary Policy: A Theoretical and Empirical Analysis
Tas, Bedri Kamil Onur - Econometric Society - 2004
It is known that stock returns are affected by monetary policy. This paper theoretically and empirically investigates whether asymmetric information between the Federal Reserve and the public causes the relation between stock returns and monetary policy actions. The paper concludes that...
Persistent link: https://www.econbiz.de/10005130171
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Global and Regional Sources of Risk in Equity Markets: Evidence from Factor Models with Time-Varying Conditional Skewness
Tay, Anthony S.; Hashmi, Aamir R. - Econometric Society - 2004
We examine the influence of global and regional factors on the conditional distribution of stock returns from six Asian markets, using factor models in which unexpected returns comprise global, regional and local shocks. The models allow for conditional heteroskedasticity and time-varying...
Persistent link: https://www.econbiz.de/10005063746