Limited Investor Attention and Stock Market Misreactions to Accounting Information

By David A. Hirshleifer, Sonya S. Lim, Siew Hong Teoh. 2011

452 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/84d3a4246cbd019e363d21a4ff02c8c50b52d361

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Turan G. Bali
2. Yi Tang
3. Yannan Shen
4. D. Sosyura
5. Azi Ben-Rephael
6. Ryan D. Israelsen
7. Lin Peng
8. Kenneth R. Ahern

In Finance

1. Yi Tang
2. Turan G. Bali
3. Yannan Shen
4. Zhi Da
5. Azi Ben-Rephael
6. Ryan D. Israelsen
7. Lin Peng
8. D. Sosyura

In Strategy and Management

1. D. Sosyura
2. Lin Peng
3. Yi Tang
4. Yannan Shen
5. Kenneth R. Ahern
6. Zhi Da
7. Turan G. Bali

Citations in the corpus

• Rumor Has It: Sensationalism in Financial Media (2015, background): “…context of financial information (Tetlock 2011; Da, Gurun, and Warachka 2014), earnings announcements (Engelberg 2008; DellaVigna and Pollet 2009; Hirshleifer, Lim, and Teoh 2009), economic shocks (Cohen and Frazzini 2008), and investment choices (Barber, Odean, and Zheng 2005; Solomon, Soltes,…”
• It Depends on Where You Search: Institutional Investor Attention and Underreaction to News (2017, background): “Thus, retail investor attention is more constrained than institutional investor attention suggesting that the investor distraction hypothesis of Hirshleifer et al. (2009) is more relevant for retail investors than for institutional investors.”
• Innovative Efficiency and Stock Returns (2013, unknown): “, LaPlante and Muscarella (1997) and Hou (2007), we divide the Nasdaq volume by a factor of two.”
• Liquidity Shocks and Stock Market Reactions (2014, background): “Theoretical models have shown that limited investor attention can lead to securities market underreaction to information and thus slow price adjustments (Hirshleifer and Teoh, 2003, Peng, 2005, Peng and Xiong, 2006, and Hirshleifer, Lim, and Teoh, 2011).”
• Shared analyst coverage: Unifying momentum spillover effects (2018, unknown): “28 for all five high minus low peer return strategies in Table 10 of Israelsen (2016) , and one of the strategies has a links going back in time.”
• Why Do Individual Investors Disregard Accounting Information? The Roles of Information Awareness and Acquisition Costs (2018, unknown): “For example: Hirshleifer et al. (2011); Cohen & Lou (2012); Miller (2010); Lawrence (2013); Hodge et al. (2004); Maines & Hand (1996); Maines & McDaniel (2000), Eppler & Mengis (2004); Chapman et al. (2017); Drake et al. (2017). hereafter) of the Associated Press’ (AP’s) staggered rollout of…”