Results 191 to 200 of about 341 (240)
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Lecture Notes in Business Information Processing, 2023
Weiwei Gan, Wenbin Qu, Dian Su
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Weiwei Gan, Wenbin Qu, Dian Su
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Why momentum concentrates among overvalued stocks?
Review of Finance, 2023Abstract We uncover a link between momentum and overvaluation: assets that generate strong momentum profits have lower risk-adjusted unconditional returns; conversely, trading momentum within overvalued assets doubles the profit of the standard momentum strategy. We compute the profits of a momentum strategy within various portfolios;
Jack Favilukis, Terry Zhang
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Stock-based Compensation, Financial Analysts, and Equity Overvaluation
SSRN Electronic Journal, 2019Stock-based compensation (SBC) reduces the value of shareholder equity, ceteris paribus, and is a significant and growing expense for many firms. Despite its valuation implications and its growing importance, anecdotal evidence suggests that market participants ignore SBC in valuation.
Partha Mohanram +2 more
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Are Stock-for-Stock Acquirers of Unlisted Targets Less Overvalued?
SSRN Electronic Journal, 2012Extant studies often assume that targets’ private ownership mitigates acquirers’ incentives and opportunities to finance acquisitions with inflated stocks. This view stems from the observation that, although the average stock-for-stock acquirer’s merger announcement abnormal return is negative when the target is listed, it is positive when the target ...
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Investigation of overvalued and undervalued stocks: the case of BSE Sensex
International Journal of Business Excellence, 2016Concerns with overvaluation and undervaluation in financial markets are the focus of behavioural economics and finance (Barberis and Thaler, 2003). The prime objective of the paper is to analyse the valuation of the stocks in the market. There are two giant indices in Indian stock market, i.e., Bombay Stock Exchange and National Stock Exchange (BSE ...
Shraddha Mishra, Raj Kumar
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Failures to Deliver, Short Sale Constraints, and Stock Overvaluation
SSRN Electronic Journal, 2011AbstractStudying a large sample of publicly available data on failures to deliver, we find that stocks reaching threshold levels of failures become significantly overvalued. Where short sale constraints are especially binding, we report extreme overpricing and subsequent reversals.
Don M. Autore +2 more
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Small investor sentiment, differences of opinion and stock overvaluation
Journal of Financial Markets, 2013Abstract Recent research shows that small trade imbalances are negatively associated with future stock returns. I find that this negative association only exists when stocks have initially been mispriced. In addition, mispricing occurs before the sentimental trading of small investors.
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Business strategy, overvalued equities, and stock price crash risk
Research in International Business and Finance, 2017This paper examines empirically the effect of firm-level business strategies on future stock price crash risk, and the extent to which equity overvaluation moderates this relation. By exploring the extent to which firms following particular business strategies are more or less likely to experience crash risk, we provide evidence that increases our ...
Habib, A., Hasan, Mostafa
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Are lottery-like stocks overvalued in markets that have no lotteries?–Evidence from Saudi Arabia
Finance Research Letters, 2022Abstract Existing studies suggest that stocks with lottery-like characteristics tend to underperform, especially when they attract retail trades, and that the degree of underperformance is closely related to investors’ forgiving (vs. forbidding) attitude toward gambles/lotteries embedded in their religious norms.
Alshammari, Saad, Goto, Shingo
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