We strive to deliver the best value to our customers and ensure complete satisfaction for all our textbook rentals.
You can return your online books for any reason within our refund period – no questions asked.
Every order is available for express shipping, and return shipping is always free.
You'll be happy with the quality of your books (or we'll ship you another one on our dime).
You can extend your rental at any time – at the same cheap daily rental rate.
If you decide to keep the book it will never cost more than the purchase price.
As always, you have access to over 5 million titles. Plus, you can choose from 5 rental periods, so you only pay for what you’ll use. And if you ever run into trouble, our top-notch U.S. based Customer Service team is ready to help by email, chat or phone.
Supplemental materials are not guaranteed for used textbooks or rentals (access codes, DVDs, workbooks).
On Evidence and Sources of International Momentum: An Empirical Study
Momentum investment strategy which buys past intermediate-term winner stocks and sells past intermediate-term loser stocks generates positive profits over three-month to one-year holding periods. This price anomaly has attracted a lot of attention since it is inconsistent with the traditional Market-Efficiency Hypothesis. This book uses an extensive...
Momentum investment strategy which buys past intermediate-term winner stocks and sells past intermediate-term loser stocks generates positive profits over three-month to one-year holding periods. This price anomaly has attracted a lot of attention since it is inconsistent with the traditional Market-Efficiency Hypothesis. This book uses an extensive international data set first to detect the existence of international momentum effect, then to investigate the sources of momentum profits. With a sample of about 20,000 stocks from 18 developed countries during 1973-2001, we find that an internationally diversified momentum strategy earns significant positive profits over intermediate horizons. On the sources of momentum profits, our findings suggest that momentum phenomenon is linked to information dissemination mechanism among investors, which is consistent with the prediction of existing behavioral theories. Our results also indicate that investing style is not an independent source of momentum. The analysis should be useful for academicians who are interested in testing market efficiency hypothesis, and may also serve as a reference for investment professionals.
Since launching the first textbook rental site in 2006, BookRenter has never wavered from our mission to make education more affordable for all students. Every day, we focus on delivering students the best prices, the most flexible options, and the best service on earth. On March 13, 2012 BookRenter.com, Inc. formally changed its name to Rafter, Inc. We are still the same company and the same people, only our corporate name has changed.