@article {Alexander57, author = {John C. Alexander, Jr and James S. Ang}, title = {The Market Response to Low-Balling Earnings Expectations}, volume = {8}, number = {1}, pages = {57--64}, year = {1999}, doi = {10.3905/joi.1999.319392}, publisher = {Institutional Investor Journals Umbrella}, abstract = {After controlling for the content of earnings information over the quarter, security returns measured over the entire quarter are affected by the path of earnings expectations during the quarter. This research uncovers cases consistent with low-balling, in which negative information elicits a positive market response. There are also observed cases consistent with high-balling, in which positive information elicits a negative or zero market response.}, issn = {1068-0896}, URL = {https://joi.pm-research.com/content/8/1/57}, eprint = {https://joi.pm-research.com/content/8/1/57.full.pdf}, journal = {The Journal of Investing} }