Mei-Chen Lin
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4 publications
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344 downloads
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1079 views
- 1233 Views
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0 books
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Sentiment on cross-sectional stock returns and volatility
Mei-Chen LinInvestment Management and Financial Innovations Volume 6, 2009 Issue #1
Views: 489 Downloads: 252 TO CITE -
Will mutual fund managers follow the leaders?
Mei-Chen Lin , Li-Ching MaInvestment Management and Financial Innovations Volume 7, 2010 Issue #1
Views: 395 Downloads: 135 TO CITE -
Weekend effect in realizing gains and losses
Mei-Chen LinInvestment Management and Financial Innovations Volume 8, 2011 Issue #4
Views: 464 Downloads: 133 TO CITE -
Effects of ambiguity in market reaction to changes in stock recommendations
Mei-Chen Lin , Chen-Yang Lin , Ming-Ti Chiang doi: http://dx.doi.org/10.21511/imfi.14(2-1).2017.08Investment Management and Financial Innovations Volume 14, 2017 Issue #2 (cont. 1) pp. 226-241
Views: 921 Downloads: 198 TO CITE АНОТАЦІЯThis study uses analyst recommendations and three ambiguity proxies, namely ambiguity in fundamentals, ambiguity in information and market ambiguity, to examine market reaction to recommendation changes in the Taiwanese stock market. The authors find that analysts’ recommendation changes have positive effects on subsequent buy-and-hold abnormal returns when market ambiguity is moderate. When ambiguity in fundamentals is low, recommendation changes have a positive influence on smaller firms. The effect of ambiguity in information on stock returns is associated with market ambiguity; market ambiguity is negatively associated with abnormal returns for firms with moderate ambiguity in fundamentals. Investors in a small firm rely more on analyst recommendations.