Hirshleifer, David; Lim, Sonya Seongyeon; Teoh, Siew Hong - Volkswirtschaftliche Fakultät, … - 2006
Psychological evidence indicates that it is hard to process multiple stimuli and perform multiple tasks at the same time. This paper tests the INVESTOR DISTRACTION HYPOTHESIS, which holds that the arrival of extraneous news causes trading and market prices to react sluggishly to relevant news...