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Keywords: partial adjustment phenomenon
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Journal Articles
Journal:
The Accounting Review
The Accounting Review (2018) 93 (6): 29–59.
Published: 01 November 2018
... of interest, GCOpinion and GCDisclosure: Loughran and Ritter's (2002) prospect theory ( Kahneman and Tversky 1979 ) explanation for the partial adjustment phenomenon is more applicable to our context. Loughran and Ritter (2002) argue that if issuers anchor on the midpoint...