Series: IMF Working Papers
Author(s): Anthony Richards
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 1997
Keywords: International equity pricing, winner&;amp;#x2013;loser reversals, contrarian strategies, stock market, stock market indices, constant term, predictability, stock markets
This paper examines possible explanations for “winner–loser reversals” in the national stock market indices of 16 countries. There is no evidence that loser countries are riskier than winner co...