Motivated by recent studies that demonstrate the superiority of the Global Industry Classification System (GICS) relative to the Standard Industry Classification (SIC) system in capital market research, we revisit the stock market anomaly documented by Thomas and Zhang (TZ) ("Overreaction to...

Purpose – Motivated by recent studies that demonstrate the superiority of the Global Industry Classification System (GICS) relative to the Standard Industry Classification (SIC) system in capital market research, the authors revisit the stock market anomaly documented by Thomas and Zhang (TZ)...

In a large sample setting, we compare four broadly available industry classification schemes in their effectiveness to group stocks with similar operating characteristics. We demonstrate the advantage of the Global Industry Classification Scheme to be consistent across different application...

We compare the Standard Industry Classification (SIC), the North American Industry Classification System (NAICS) and the Global Industry Classification Standard (GICS) schemes in their effectiveness to group stocks with similar operating characteristics. We are the first to analyse and compare...

We compare the Standard Industry Classification (SIC), the North American Industry Classification System (NAICS) and the Global Industry Classification Standard (GICS) schemes in their effectiveness to group stocks with similar operating characteristics. We are the first to analyse and compare...

In a large sample setting, we compare four broadly available industry classification schemes in their effectiveness to group stocks with similar operating characteristics. We demonstrate the advantage of the Global Industry Classification Scheme to be consistent across different application...