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Cited by 2,373

The DOI matches its Crossref record; 23 of the 23 references it cites were found in a registry or an index.

Further Evidence On Investor Overreaction and Stock Market Seasonality

De BONDT, WERNER F. M., THALER, RICHARD H.·1987·The Journal of Finance
DOI 10.1111/j.1540-6261.1987.tb04569.x
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Abstract

In a previous paper, we found systematic price reversals for stocks that experience extreme long‐term gains or losses: Past losers significantly outperform past winners. We interpreted this finding as consistent with the behavioral hypothesis of investor overreaction. In this follow‐up paper, additional evidence is reported that supports the overreaction hypothesis and that is inconsistent with two alternative hypotheses based on firm size and differences in risk, as measured by CAPM‐betas. The seasonal pattern of returns is also examined. Excess returns in January are related to both short‐term and long‐term past performance, as well as to the previous year market return.

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Crossref · 10.1111/j.1540-6261.1987.tb04569.x

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Metadata

Authors
De BONDT, W. F. M., & THALER, R. H.
Venue
The Journal of Finance
Publisher
Wiley
Published
1987-07
Volume
42
Issue
3
Pages
557-581
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.1987.tb04569.x
OpenAlex
W2106798814
Cited by
2,373
References
23
FWCI
49.08
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Further Evidence On Investor Overreaction and Stock Market Seasonality. https://app.cochat.ai/papers/10.1111/j.1540-6261.1987.tb04569.x
The paper
De BONDT, W. F. M., & THALER, R. H. (1987). Further Evidence On Investor Overreaction and Stock Market Seasonality. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.1987.tb04569.x

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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.