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Momentum trading, disposition effects and prediction of future share prices: an experimental study of multiple reference points in responses to short- and long-run return trends

Svedsater, Henrik; Karlsson, Niklas; Garling, Tommy - In: Applied financial economics 19 (2009) 7-9, pp. 595-610

Persistent link: https://www.econbiz.de/10008256343

Momentum trading, disposition effects and prediction of future share prices: an experimental study of multiple reference points in responses to short- and long-run return trends

Svedsater, Henrik; Karlsson, Niklas; Garling, Tommy - In: Applied financial economics 19 (2009) 8, pp. 595-610

Persistent link: https://www.econbiz.de/10008235674

Momentum trading, disposition effects and prediction of future share prices : an experimental study of multiple reference points in responses to short- and long-run return trends

Svedsater, Henrik; Karlsson, Niklas; Gärling, Tommy - In: Applied financial economics 19 (2009) 7/9, pp. 595-610

Returns of equities tend to exhibit momentum in the short to medium term and reversals in the longer term. While presenting results partly supporting such findings, we demonstrate that investors rely on multiple reference points in their trading behaviour. In particular it is shown that the...

Persistent link: https://www.econbiz.de/10003842663