Essays on Investor Sentiment and Market Efficiency
|Director of thesis||Prof. Garen Markarian, PhD|
|Co-director of thesis|
|Summary of thesis||
In the first two chapters of my thesis, i deal with market reactions around earnings announcements:
I decompose daily returns into a day and after-hours component. I show that after-hours (day) trading is mainly dominated by retail traders (institutions).
I provide the first evidence on how sophisticated short sellers use firm-level earnings information for trading gains.
|Administrative delay for the defence||2023|