求文献两篇

【作者(必填)】George O. Aragon

【文题(必填)】Stock market trading activity and returns around milestones

【年份(必填)】2011

【全文链接或数据库名称(选填)】http://www.sciencedirect.com/sci ... i/S0927539811000429
【作者(必填)】Ines Fortin

【文题(必填)】Optimal asset allocation under linear loss aversion

【年份(必填)】2011

【全文链接或数据库名称(选填)】http://www.sciencedirect.com/sci ... i/S0378426611001282

呵呵，ok

作者:Aragon, George O.1 george.aragon@asu.edu
Dieckmann, Stephan2 sdieckma@wharton.upenn.edu.
来源:Journal of Empirical Finance; Sep2011, Vol. 18 Issue 4, p570-584, 15p.
文献类型:Article.
主题语:*STOCKS (Finance)
*STOCK exchanges
*RATE of return
*DOW Jones industrial average
*PERFORMANCE evaluation
*DECISION making
*CAPITAL assets pricing model.
NAICS/Industry Codes :523210 Securities and Commodity Exchanges.
摘要:Abstract: We study the relation between daily stock market trading activity and the Dow Jones Industrial Average''s (DJIA) movement around millenary milestones—numbers that end in three zeros. We find aggregate turnover to be 5% lower when the DJIA level is less than 1% away from the nearest milestone. The effect emerges as the DJIA approaches a milestone from below, and is stronger for first-time milestones compared to subsequent passages. The aggregate price impact is large, such that daily stock returns show a negative abnormal performance of −10 basis points. Our findings suggest that millenary milestones of the DJIA play a role in some investors'' decision making. [Copyright &y& Elsevier].
Copyright of Journal of Empirical Finance is the property of Elsevier Science and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.).
作者单位:1W.P. Carey School of Business at Arizona State University, Tempe, AZ 85287-3906, United States
2Wharton School at University of Pennsylvania, Philadelphia, PA 19104-6367, United States.
ISSN:09275398.
DOI:10.1016/j.jempfin.2011.05.010.
入藏编号:65044361.
数据库: Business Source Premier.