Sökning: "Lottery-like payoffs"

Hittade 2 uppsatser innehållade orden Lottery-like payoffs.

1. 1. The Performance of Stocks Earning Extreme Single-Day Returns: Evidence from Sweden

   D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Författare :Dominik Schleuss; Tavish Gantz; [2021]
   Nyckelord :MAX Effect; Extreme returns; Cross-section of returns; Lottery-like payoffs; Behavioral Finance;

   Sammanfattning : In 2011, Bali et al. presented evidence that stocks with extreme one and multi day-returns significantly underperform stocks with less extreme returns in the following month. They attributed this to investors exhibiting a preference for stocks with lottery-like payoffs. LÄS MER

3. 2. The MAX effect and what drives it - Evidence from the Swedish stock market

   C-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Författare :Alexander Helmy; Karl Hellgren; [2015]
   Nyckelord :MAX effect; ; lottery-type stocks; cross-sectional return predictability; individual investor purchasing behavior;

   Sammanfattning : Inspired by previous findings on the cross-sectional relationship between extreme positive daily stock returns and subsequent negative returns in the US and euro-zone markets, we search for its presence in the Swedish market. We argue that this effect, known as the MAX effect, is mainly driven by individual investors seeking lottery-like payoffs. LÄS MER