Essays about: "lottery-type stocks"

Found 2 essays containing the words lottery-type stocks.

1. 1. The MAX Effect and Investor Sentiment in Sweden

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Soroush Mojtahedi; Artemy Savin; [2021]
   Keywords : MAX Effect; Extreme Returns; Investor Sentiment; Lottery-type Stocks; Stock Return Predictability;

   Abstract : Motivated by existing literature about the effect of maximum daily returns (MAX) on subsequent stock returns and the link between this effect and market sentiment, we investigate the possible effect of MAX on stock performance in Sweden and its relation with market sentiment. Portfolio-level analyses show evidence of MAX negatively affecting returns of stocks listed in Sweden, while firm-level cross-sectional regressions show that MAX has little or no effect on individual stocks' returns. READ MORE

3. 2. The MAX effect and what drives it - Evidence from the Swedish stock market

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Alexander Helmy; Karl Hellgren; [2015]
   Keywords : MAX effect; ; lottery-type stocks; cross-sectional return predictability; individual investor purchasing behavior;

   Abstract : Inspired by previous findings on the cross-sectional relationship between extreme positive daily stock returns and subsequent negative returns in the US and euro-zone markets, we search for its presence in the Swedish market. We argue that this effect, known as the MAX effect, is mainly driven by individual investors seeking lottery-like payoffs. READ MORE