THE JOURNAL OF FINANCE • VOL. LXIV‚ NO. 5 • OCTOBER 2009 Driven to Distraction: Extraneous Events and Underreaction to Earnings News DAVID HIRSHLEIFER‚ SONYA SEONGYEON LIM‚ and SIEW HONG TEOH∗ ABSTRACT Recent studies propose that limited investor attention causes market underreactions. This paper directly tests this explanation by measuring the information load faced by investors. The investor distraction hypothesis holds that extraneous news inhibits market reactions to relevant news. We find
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AP® BIOLOGY 2009 SCORING GUIDELINES (Form B) Question 3 Water is essential to all living things. (a) Discuss THREE properties of water. (b) Explain each of the following in terms of the properties of water. You are not limited to the three properties discussed in part (a): • • • the role of water as a medium for the metabolic processes of cells the ability of water to moderate temperature within living organisms and in organisms’ environments the movement of water from the roots to
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More people die from dirty water and poor sanitation in Africa‚ than acts of violence ‚ including war(“Why is Clean Water so important?”). Children are especially targeted for disease‚ because their immune system is smaller‚ and they are younger (“Why Water?” ). Africa has many poor countries‚ and many people are dying from diseases in water. Every day‚ people have to walk over five miles to get a bucket of water for the family they are in. Most of the time‚ the only water people can find is dirty
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St. Green Acres‚ OH 1234 January 1‚ 2013 Jacob Gedleyihlekisa Zuma‚ Mr AKA Mayor Zetye City of Green Acres 500 Maple St. Green Acres‚ OH 1234 Dear Mayor Zetye: Mayor Zetye: Youth unemployment in Africa is more problematic than in many other parts of the world. Africa has a high population growth rate and there are millions of young people looking for a job. We need to fill this void quickly‚ before matter become worse. If you care about your children’s success in school‚
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How Colonialism led to Poverty in Africa The native Africans have been in a state of poverty and have not been able to fix it. They have been trying for centuries to live a decent life‚ but have yet to succeed. The Europeans could have helped the Africans with their situation‚ but instead‚ they tried to colonize their land. As a result‚ some Africans fought while others fell into the dark grips of imperialism. Europeans benefitted greatly while the Africans suffered more than before from poverty
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Apartheid In South Africa APARTHEID Apartheid is the political policy of racial segregation. In Afrikaans‚ it means apartness‚ and it was pioneered in 1948 by the South African National Party when it came to power. Not only did apartheid separate whites from non-whites‚ it also segregated the Blacks (Africans) from the Coloureds (Indians‚ Asians). All things such as jobs‚ schools‚ railway stations‚ beaches‚ park benches‚ public toilets and even parliament. Apartheid also
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Austin E. Industrialization DBQ Identify the issues raised by the growth of Manchester and analyze the various reactions to those issues over the course of the nineteenth century. Thesis: Industrialization rapidly changed the city of Manchester during the nineteenth century. The city experienced both positive and negative effects as a result of being industrialized. The factories caused many health issues for Manchester as a whole such as polluting rivers and filling the air with smog. These
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INTRODUCTION Since the political transition in 1994‚ South Africa has witnessed the acceleration of its already high unemployment rate. South Africa currently has one of the highest unemployment rates internationally. This is the culmination of a long-term‚ yet steady‚ rise in unemployment that started as early as the 1970s (Seeking and Natrass 2006)‚ but which has rapidly accelerated in the post-apartheid period. South Africa as a developing country has faced a crisis of the high rate of unemployment
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by a British economist called John Maynard Keynes in the 1930’s in an attempt to understand the Great Depression. The American Recovery and Reinvestment Act of 2009 or ARRA‚ also nicknamed the Recovery Act‚ was a stimulus package put in place by the 111th U.S. Congress and was signed into law by the President Barack Obama in February 2009. Work on the bills had started way before President Obama officially took office on January 20. It was created in response to the Great Recession. The Recovery
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How has the image of Africans develop from being savages to being portrayed as more human individuals? In other words‚ in what ways has the roles of African reversed over time? Refer to five or more of the assigned readings to support your assertions. A stereotype can be defined as a “representational practice” that categorizes an individual or group of individuals based on their differences‚ often classifying them with a positive or negative label. For example‚ the classification of an individual
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