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dc.contributor.authorBird, Ron
dc.contributor.authorChoi, Daniel F.S.
dc.contributor.authorYeung, Danny
dc.date.accessioned2013-04-17T03:46:35Z
dc.date.available2013-04-17T03:46:35Z
dc.date.copyright2013-03-30
dc.date.issued2013
dc.identifier.citationBird, R., Choi, D. F. S., & Yeung, D. (2013). Market uncertainty, market sentiment, and the post-earnings announcement drift. Review of Quantitative Finance and Accounting, article in press.en_NZ
dc.identifier.issn0924-865x
dc.identifier.urihttps://hdl.handle.net/10289/7468
dc.description.abstractPost-earnings announcement drift (PEAD) which was first identified over 40 years ago seems to be as much alive today as it ever was. Numerous attempts have been made to explain its continued existence. In this paper we provide evidence to support a new explanation: that the PEAD is a reflection of the level of market uncertainty and sentiment that prevails during the post-announcement period. The overriding conclusion from our analysis is that both uncertainty and sentiment play a central role in determining investor behaviour and it is this behaviour that ultimately determines the pricing that is observed in financial markets.en_NZ
dc.language.isoen
dc.publisherSpringer-Verlagen_NZ
dc.relation.ispartofReview of Quantitative Finance and Accounting
dc.subjectanomaliesen_NZ
dc.subjectpost-earrings announcement driften_NZ
dc.subjectsentimenten_NZ
dc.subjectuncertaintyen_NZ
dc.titleMarket uncertainty, market sentiment, and the post-earnings announcement driften_NZ
dc.typeJournal Articleen_NZ
dc.identifier.doi10.1007/s11156-013-0364-xen_NZ
dc.relation.isPartOfReview of Quantitative Finance and Accountingen_NZ
pubs.begin-page45en_NZ
pubs.elements-id39017
pubs.end-page73en_NZ
pubs.issue1en_NZ
pubs.volume43en_NZ


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