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I examine the degree to which stockholders' aggregate gain/loss frame of reference in the equity of a given firm affects their response to the firm's quarterly earnings announcements. Contrary to

I examine the degree to which stockholders' aggregate gain/loss frame of reference in the equity of a given firm affects their response to the firm's quarterly earnings announcements. Contrary to predictions from rational expectations models of trade (Shackelford and Verrecchia 2002), I find that abnormal trading volume around earnings announcements is larger (smaller) when stockholders are in an aggregate unrealized capital gain (loss) position.

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    Date Created
    • 2012
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  • Text
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    Note
    • Partial requirement for: Ph. D., Arizona State University, 2012
      Note type
      thesis
    • Includes bibliographical references (p. 47-50)
      Note type
      bibliography
    • Field of study: Accountancy

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    by Eric Weisbrod

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