Title

Asymmetric Changes In Stock Prices And Investor Recognition Around Revisions To The S&P 500 Index

Document Type

Article

Publication Date

1-1-2011

Publication Title

Financial Analysts Journal

Keywords

S&P 500; stock indices; stock prices; investor recognition

Disciplines

Finance and Financial Management | Portfolio and Security Analysis

Abstract

This study finds that first-time additions to the S&P 500 Index or its family experience permanent price increases; however, companies upgraded from lesser-known S&P indices, reentering the S&P 500, or dropped from the index experience temporary price changes. These price patterns can be explained by changes in investor recognition.

DOI

10.2469/faj.v67.n1.1

Volume

67

Issue

1

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