Dispersion of Expectations and Trading Volume

12 Pages Posted: 29 Jul 2011

See all articles by Eugene E. Comiskey

Eugene E. Comiskey

affiliation not provided to SSRN

Ralph A. Walkling

Drexel University - Lebow College of Business

Michael Weeks

affiliation not provided to SSRN

Date Written: 1987

Abstract

Motivated in large measure by the work of Edward Miller (1977), a number of recent studies have investigated the impact of divergent expectations on security risk and return (see Bart and Masse, 1981; Friend, Westerfield and Granito,1978; and Peterson and Peterson, 1982). In addition, some theoretical work has been done on the impact of divergent expectations on trading volume (see Copeland, 1976; Verrecchia, 1981; and Karpoff, 1984). However, to date no empirical studies have been conducted to test the hypothesized positive relationship between the dispersion of expectations and trading volume. Providing such a test is the objective of this paper.

Suggested Citation

Comiskey, Eugene E. and Walkling, Ralph August and Weeks, Michael, Dispersion of Expectations and Trading Volume (1987). Journal of Business Finance & Accounting, Vol. 14, pp. 229-239, 1987. Available at SSRN: https://ssrn.com/abstract=917883

Eugene E. Comiskey (Contact Author)

affiliation not provided to SSRN ( email )

Ralph August Walkling

Drexel University - Lebow College of Business ( email )

LeBow College of Business
Philadelphia, PA 19104
United States
(215) 895-4920 (Phone)
(215) 895-6119 (Fax)

Michael Weeks

affiliation not provided to SSRN ( email )

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