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Cited by 1,130

The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.

Expectations of Returns and Expected Returns

Open access
Greenwood, Robin, Shleifer, Andrei·2014·Review of Financial Studies
DOI 10.1093/rfs/hht082
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Abstract

We analyze time-series of investor expectations of future stock market returns from six data sources between 1963 and 2011.The six measures of expectations are highly positively correlated with each other, as well as with past stock returns and with the level of the stock market.However, investor expectations are strongly negatively correlated with model-based expected returns.We reconcile the evidence by calibrating a simple behavioral model, in which fundamental traders require a premium to accommodate expectations shocks from extrapolative traders, but markets are not efficient.

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Metadata

Authors
Greenwood, R., & Shleifer, A.
Venue
Review of Financial Studies
Publisher
Oxford University Press (OUP)
Published
2014-01-11
Volume
27
Issue
3
Pages
714-746
ISSN
  • 0893-9454 (ISSN-L)
  • 1465-7368
DOI
10.1093/rfs/hht082
OpenAlex
W2099227715
Cited by
1,130
References
3
FWCI
103.43
Type
journal article
Language
en
Open access
bronze

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CoChat. (2026). Citation check: Expectations of Returns and Expected Returns. https://app.cochat.ai/papers/10.1093/rfs/hht082
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Greenwood, R., & Shleifer, A. (2014). Expectations of Returns and Expected Returns. Review of Financial Studies. https://doi.org/10.1093/rfs/hht082

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.