Far away from home: Investors' underreaction to geographically dispersed information
Using a novel data set to identify geographic peer firms based on the locations of both firms' headquarters and material subsidiaries, we show that returns on geographical peers have strong predictive power for focal firm returns. A value-weighted long-short strategy that buys stocks with the h...
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Main Authors: | , , , |
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Format: | text |
Language: | English |
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Institutional Knowledge at Singapore Management University
2022
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Subjects: | |
Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/7200 |
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Institution: | Singapore Management University |
Language: | English |