Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/94608 
Year of Publication: 
1999
Series/Report no.: 
Claremont Colleges Working Papers in Economics No. 1999-26
Publisher: 
Claremont McKenna College, Department of Economics, Claremont, CA
Abstract: 
This paper finds that the majority of stock price movements remain unexplained after controlling for both public and private information. This suggests that economists' inability to explain asset price movements is the result of either noise or naive asset pricing models.
Subjects: 
asset pricing
news
private information
JEL: 
G12
G14
Document Type: 
Working Paper

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