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Full-Text Articles in Business
Price Momentum And Idiosyncratic Volatility, Matteo Arena, K. Haggard, Xuemin Yan
Price Momentum And Idiosyncratic Volatility, Matteo Arena, K. Haggard, Xuemin Yan
Matteo P. Arena
No abstract provided.
A Face Can Launch A Thousand Shares (And A 0.80% Abnormal Return), Matteo Arena, John Howe
A Face Can Launch A Thousand Shares (And A 0.80% Abnormal Return), Matteo Arena, John Howe
Matteo P. Arena
In this paper we examine the market reaction—price and volume—to the appearance of a firm in the Who’s News column of The Wall Street Journal. We differentiate between those firms whose articles are accompanied by a picture of an executive and a control set of firms whose articles on the same day are not accompanied by a picture. The results show a more pronounced market reaction to the “cum picture” articles, consistent with the incomplete information theory of Merton [1987] and the heuristic-based familiarity hypothesis. There is no evidence of significant long-run abnormal performance for the sample firms.