Multiple Choice
A study by Ball,Kothari and Shanken (1995) examines the reversal effect and finds
A) the reversal effect seems to be concentrated in low-priced shares.
B) the reversal effect is substantially diminished when portfolios are formed based on mid-year performance rather than December results.
C) the risk-adjusted return from trying to exploit the reversal effect is effectively zero.
D) all of these are true.
E) none of these.
Correct Answer:
Verified
Correct Answer:
Verified
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