Mehdian, Seyed; Nas, Tevfik; Perry, Mark J. - In: Global Finance Journal 18 (2008) 3, pp. 337-350
We investigate investor reaction to the arrival of unexpected information in Turkey from 1997 to 2004. Daily stock returns are used to test two behavioral hypotheses regarding investor reaction to news: The Overreaction Hypothesis (OH) and the Uncertain Information Hypothesis (UIH). We find no...
