1980 and 1995 an internationally diversified portfolio of past medium-term Winners outperforms a portfolio of medium-term Losers after correcting for risk by more than one percent per month. Return continuation is present in all twelve sample countries and lasts on average for about one year

, especially negative information, diffuses only gradually across the investing public. SEVERAL RECENT PAPERS HAVE DOCUMENTED that, at medium-term horizons ranging from three to 12 months, stock returns exhibit momentum-that is, past winners continue to perform well, and past losers continue to perform poorly

NEWS EVENTS, INFORMATION ACQUISITION, AND SERIAL CORRELATION Prior research #nds that momentum strategies (buying past losers and selling past winners) generate abnormal returns over medium-term (3- to 12-month) horizons. The Fama and French factors are unable to account for this eect, though

trust societies may fall into a development trap. Second, while much of the conflict literature focuses on the immediate post-conflict period, a medium-term perspective on post-war reconstruction is applied here. This time horizon allows us to identify economic winners and losers of post

capitalization (2 sorts) instead of what are done by most of the past studies by just sorting stocks by either past return or price ratio (1 sort). We also show that for stocks from the loser, medium or winner groups, small capitalization stocks always significantly outperform large capitalization stocks

representative consumer to a model that endogenously includes 55,098 Households. We find that virtually all households gain from Russian WTO accession in the medium term, with 99.9 percent of the estimated gains falling with a range from two percent increase in household income to 25 percent. We simulate Russian

exhibits a unilateral feature. In the short and medium term, the contrarian effect is significant in the Chinese stock market; with the extension of the holding period, however, the contrarian effect weakens and certain momentum effects become significant. In addition, the paper has tried to analyze

new winners and losers, but most predictions had the winners winning more than the losers would lose, thus holding out the possibility of the winners compensating the losers and all members being better off. However, the models assumed, among other things, that trade arrangements outside of nafta

the relative successes in terms of monetary returns and user base, leaders and losers in the race are established. Examining the different affordances of each network toward establishing a cohesive online social gaming offering will shed light on what factors are related to

I first thank my thesis advisors Thiemo Voigt and Adam Dunkels for being my excellent advisors, and also for being the great colleagues you still are. Thiemo and Adam have complemented each other superbly, giving me feedback, perspectives, insights, and having made every single new venture truly fun. My deepest thanks also go to my professor Per Gunningberg, Uppsala University. Per has in a seemingly easy way spotted erroneous assumptions, has valued my research contributions, and has connected my own work with another broader world of research. I want to thank all colleagues in the Networked Embedded Systems group: