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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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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| Research Paper on the Recession of 2007-2009 | Cynthia Funes | | American Government 2301 | 9:40-11:40 A.M. | Mr. Jacobs June 28‚ 2011 | Everybody in the United Stated was affected by the recession that began in December of 2007 and spanned all the way to June 2009. Even though the recession is over‚ many people are still being affected by it and have still not been able to recover from the great recession. “The recent recession features the largest decline in output‚ consumption
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Import Policy 2009-2012 1. General Provisions for Import Regulation of Import- Import of goods under this Order shall be regulated as follows: * Unless otherwise specified in this order‚ the items banned for import in the list shall not be importable: Provided that‚ those items which are importable on fulfillment of certain conditions specified in the list shall be importable on fulfillment of those conditions. * Except the items specified in the article 3(a)‚ all other items are importable
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Milton Friedman‚ “The Social Responsibility of Business is to Increase Profits” In the article‚ “The Social Responsibility of Business Is to Increase Profits‚” Friedman states that “businessmen believe that they are defending free enterprise when they proclaim that business is not concerned merely with profit but also with promoting desirable social ends.” This social responsibility is defined as Corporate Social Responsibility (CSR)‚ which is the belief that “corporations owe a greater duty
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The 2009 Chrysler-Fiat Strategic Alliance Christopher McCarthy 3/11/13 Table of Contents Introduction.............................................................................................................................3 Summary of the Strategic Alliance................................................................................ .........4 Positives/Negatives........................................................
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corporate bosses manage employees ’ dismissal; more accurately‚ it displays human fallout over job loss. This kind of movie is not common in the modern Hollywood production - the kind that does not insult our intelligence. This movie‚ released in 2009‚ is very well-timed‚ as in these times of economic meltdown‚ one of the main problems in people ’s lives is getting laid-off‚ not knowing what to do next to support their families. This story best displays the uncertainty of today and it carries a
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Too much of something is always bad and the people of Bolivia are now living this motto. Jean Friedman-Rudovsky explains in the Article “A Gourmet Food’s Growing Pain” how the Quinoa became one of the most valuable exports for Bolivia. The Quinoa “was always comida para los indios” but “Today it’s food for the world’s richest”(Rudovsky‚ p.1) according to two locals. The Quinoa received a lot of fame after NASA recommended it as part of a potential diet and after that the market for Quinoa sky rocked
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All seven economists that were can be compared and contrasted extensively. However‚ for this essay‚ Adam Smith‚ Thomas Robert Malthus‚ Karl Marx‚ and Milton Friedman will be compared and contrasted with each other. They all have similarities and differences among their theories and beliefs‚ but this essay will only discuss a few of them. Smith‚ considered the father of economics‚ was a firm believer in a laissez fair method of monitoring the economy. He wanted to leave things alone and work out on
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