Harvard University. I thank Alberto Ades, Judith Chevalier, Kenneth Froot, Edward Glaeser, Gikas Hardouvelis, Steven Kaplan, Florencio López-de-Silanes, Patricia O'Brien, two anonymous referees, René Stulz, Thierry Wizman, and participants of the Chicago Finance Seminar for their helpful comments. I am deeply grateful to Andrei Shleifer for guidance and support and to Robert Vishny for many useful discussions. I gratefully acknowledge the contribution of I/B/E/S International Inc. for providing earnings forecast data, available through the Institutional Brokers Estimate System. This data has been provided as part of a broad academic program to encourage earnings expectations research. I thank Patricia Martin for editorial assistance.
Expectations and the Cross-Section of Stock Returns
Article first published online: 30 APR 2012
1996 The American Finance Association
The Journal of Finance
Volume 51, Issue 5, pages 1715–1742, December 1996
How to Cite
LA PORTA, R. (1996), Expectations and the Cross-Section of Stock Returns. The Journal of Finance, 51: 1715–1742. doi: 10.1111/j.1540-6261.1996.tb05223.x
- Issue published online: 30 APR 2012
- Article first published online: 30 APR 2012
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