Construct · 1 fields · 1 citations

max effect: a standalone construct

One name. One construct. A landmark on the map.

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Asset pricing

the negative relation between a stock's highest daily return in the past month and its future returns, consistent with demand for lottery-like payoffs.

In asset pricing, max effect refers to the negative relation between a stock's highest daily return in the past month and its future returns, consistent with demand for lottery-like payoffs. This meaning comes from Bali (2011) in Journal of Financial Economics.[1]

Unit
Recovery means
Measured by

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Nearby constructs

asset2 fields · 2 citationsjingle · one word, two constructs demand4 fields · 4 citationsjingle · one word, four constructs future3 fields · 6 citationsjingle · one word, three constructs

References

Bali, T. G., Cakici, N., & Whitelaw, R. F. (2011). Maxing out: Stocks as lotteries and the cross-section of expected returns. Journal of Financial Economics, 99(2), 427-446. https://doi.org/10.1016/j.jfineco.2010.08.014

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