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Dynamic Style Preferences of Individual Investors and Stock Returns

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Author Info
Kumar, Alok
Abstract

This study shows that individual investors systematically shift their preferences across extreme style portfolios (small vs. large, value vs. growth). These preference shifts are influenced by past style returns and earnings differentials, and advice from investment newsletters, but are unaffected by innovations in macroeconomic variables or shifts in expectations about future cash flows. Furthermore, investors portfolio decisions and stock returns.

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File URL: http://journals.cambridge.org/abstract_S0022109009990020
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Publisher Info
Article provided by Cambridge University Press in its journal Journal of Financial and Quantitative Analysis.

Volume (Year): 44 (2009)
Issue (Month): 03 (June)
Pages: 607-640
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:cup:jfinqa:v:44:y:2009:i:03:p:607-640_99

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This page was last updated on 2009-12-14.

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