This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Contagious Speculation and a Cure for Cancer: A Nonevent that Made Stock Prices Soar Author info | Abstract | Publisher info | Download info | Related research | Statistics Gur Huberman
Additional information is available for the following
registered author(s):
A Sunday "New York Times" article on a potential development of new cancer-curing drugs caused EntreMed's stock price to rise from 12.063 at the Friday close, to open at 85 and close near 52 on Monday. It closed above 30 in the three following weeks. The enthusiasm spilled over to other biotechnology stocks. The potential breakthrough in cancer research already had been reported, however, in the journal "Nature", and in various popular newspapers (including the "Times") more than five months earlier. Thus, enthusiastic public attention induced a permanent rise in share prices, even though no genuinely new information had been presented. Copyright The American Finance Association 2001.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Article provided by American Finance Association in its journal The Journal of Finance .
Volume (Year): 56 (2001)
Issue (Month): 1 (02)
Pages: 387-396
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Handle: RePEc:bla:jfinan:v:56:y:2001:i:1:p:387-396Contact details of provider: Web page: http://www.afajof.org/ More information through EDIRC
Order Information: Web: http://www.afajof.org/membership/join.asp
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Keywords: Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Marco Stringa & Allan Monks, .
"Inter-industry contagion between UK life insurers and UK banks: an event study ,"
Bank of England working papers
325, Bank of England.
[Downloadable!]
Lin Peng & Wei Xiong, 2005.
"Investor Attention: Overconfidence and Category Learning ,"
NBER Working Papers
11400, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Riccardo Ferretti & Francesco Pattarin, 2008.
"Is public information really public? The role of newspapers ,"
Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance)
08013, Universita di Modena e Reggio Emilia, Facoltà di Economia "Marco Biagi".
[Downloadable!]
Fumiko Takeda & Hiroaki Yamazaki, 2006.
"Stock Price Reactions to Public TV Programs on Listed Japanese Companies ,"
Economics Bulletin ,
Economics Bulletin, vol. 13(7), pages 1-7.
[Downloadable!]
DellaVigna, Stefano & Kaplan, Ethan, 2006.
"The Fox News Effect: Media Bias and Voting ,"
Seminar Papers
748, Stockholm University, Institute for International Economic Studies.
[Downloadable!]
Christian Leuz & Catherine Schrand, 2009.
"Disclosure and the Cost of Capital: Evidence from Firms’ Responses to the Enron Shock ,"
NBER Working Papers
14897, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Jon H. Fiva & Lars J. Kirkebøen, 2008.
"Does the Housing Market React to New Information on School Quality? ,"
CESifo Working Paper Series
CESifo Working Paper No. , CESifo Group Munich.
[Downloadable!]
Other versions: Stefano DellaVigna & Joshua M. Pollet, 2009.
"Capital Budgeting vs. Market Timing: An Evaluation Using Demographics ,"
NBER Working Papers
15184, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Stefano DellaVigna & Ethan Kaplan, 2006.
"The Fox News Effect: Media Bias and Voting ,"
NBER Working Papers
12169, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Thomas Schuster, 2003.
"Meta-Communication and Market Dynamics. Reflexive Interactions of Financial Markets and the Mass Media ,"
Finance
0307014, EconWPA.
[Downloadable!]
Stefano DellaVigna & Joshua Pollet, 2005.
"Investor Inattention, Firm Reaction, and Friday Earnings Announcements ,"
NBER Working Papers
11683, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Simon Gilchrist & Charles P. Himmelberg & Gur Huberman, 2004.
"Do Stock Price Bubbles Influence Corporate Investment? ,"
NBER Working Papers
10537, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Simon Gilchrist & Charles P. Himmelberg & Gur Huberman, 2004.
"Do stock price bubbles influence corporate investment? ,"
Staff Reports
177, Federal Reserve Bank of New York.
[Downloadable!] Gur Huberman & Simon Gilchrist & Charles Himmelberg, 2004.
"Do Stock Price Bubbles Influence Corporate Investment? ,"
2004 Meeting Papers
147, Society for Economic Dynamics.
[Downloadable!] Gilchrist, Simon & Himmelberg, Charles P. & Huberman, Gur, 2005.
"Do stock price bubbles influence corporate investment? ,"
Journal of Monetary Economics ,
Elsevier, vol. 52(4), pages 805-827, May.
[Downloadable!] (restricted) Nejat Anbarci & Ching-jen Sun, 2009.
"Robustness of Intermediate Agreements and Bargaining Solutions ,"
Economics Series
2009_14, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
[Downloadable!]
Stefano DellaVigna & Joshua M. Pollet, 2005.
"Attention, Demographics, and the Stock Market ,"
NBER Working Papers
11211, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Andrew W. Lo & Dmitry V. Repin, 2001.
"The Psychophysiology of Real-Time Financial Risk Processing ,"
NBER Working Papers
8508, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Hagerman, Amy & Jin, Yanhong, 2009.
"The Buzz In The Pits: Livestock Futures' Response To A Rumor Of Foreign Animal Disease ,"
2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin
49493, Agricultural and Applied Economics Association.
[Downloadable!]
Access and
download statistics Did you know? IDEAS also indexes book chapters .
This page was last updated on 2009-12-8.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .