湖南大学学报（社会科学版）Issue(1)：71-78,8.
投资者异质信念与证券市场盈余公告效应研究
A Study of Investors Heterogeneous Beliefs and the Post-Earnings Announcement Drift in the Securities Market
摘要
Abstract
Post-earnings announcement drift is very commom on countries capital markets.The hetero-geneous beliefs can explan this anomaly preferably.The empirical test results show that there is a signifi-cant positive(negative)correlation between investors heterogeneous beliefs and cumulative abnormal return short-term around (long-term after ) the earnings announcement,and the low earnings quality may strengthen this negative impact.With greater heterogeneous beliefs and lower earnings information quality, the long-term cumulative abnormal return will be smaller.关键词
投资者异质信念/盈余公告效应/盈余质量Key words
heterogeneous beliefs/post-earnings announcement drift/earnings quality分类
管理科学引用本文复制引用
周晖,朱党辉..投资者异质信念与证券市场盈余公告效应研究[J].湖南大学学报（社会科学版）,2014,(1):71-78,8.基金项目
教育部留学回国人员科研启动基金项目([2012]1707) （[2012]1707）
