The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
DotCom Mania: The Rise and Fall of Internet Stock Prices
Open accessAbstract
This paper explores a model based on agents with heterogenous beliefs facing short sales restrictions, and its explanation for the rise, persistence, and eventual fall of Internet stock prices. First, we document substantial short sale restrictions for Internet stocks. Second, using data on Internet holdings and block trades, we show a link between heterogeneity and price effects for Internet stocks. Third, arguing that lockup expirations are a loosening of the short sale constraint, we document average, long‐run excess returns as low as −33 percent for Internet stocks postlockup. We link the Internet bubble burst to the unprecedented level of lockup expirations and insider selling.
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Citations
Cites
Shleifer, A., & Vishny, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb03807.x · Cited by 5,291
Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors
Barber, B. M., & Odean, T. (2000) · The Journal of Finance · doi:10.1111/0022-1082.00226 · Cited by 3,955
Cited by
Investor Sentiment and the Cross‐Section of Stock Returns
BAKER, M., & WURGLER, J. (2006) · The Journal of Finance · doi:10.1111/j.1540-6261.2006.00885.x · Cited by 6,049
An Engine, Not a Camera: How Financial Models Shape Markets
MacKenzie, D. (2006) · doi:10.7551/mitpress/9780262134606.001.0001 · Cited by 1,766
Investor Sentiment and the Cross-section of Stock Returns
Baker, M. P., & Wurgler, J. A. (2003) · SSRN Electronic Journal · doi:10.2139/ssrn.464843 · Cited by 1,456
Dumb money: Mutual fund flows and the cross-section of stock returns
Frazzini, A., & Lamont, O. A. (2008) · Journal of Financial Economics · doi:10.1016/j.jfineco.2007.07.001 · Cited by 882
Up Close and Personal: Investor Sophistication and the Disposition Effect
Dhar, R., & Zhu, N. (2006) · Management Science · doi:10.1287/mnsc.1040.0473 · Cited by 840
Metadata
- Authors
- Ofek, E., & Richardson, M.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2003-05-06
- Volume
- 58
- Issue
- 3
- Pages
- 1113-1137
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3123728483
- Cited by
- 906
- References
- 2
- FWCI
- 66.24
- Type
- journal article
- Language
- en
- Open access
- bronze
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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.
