Review on market efficiency, Anomalies and Investor behavior
Publish place: 1st International Conference on Empowerment of Management, Industrial Engineering, Accounting and Economics
Publish Year: 1402
نوع سند: مقاله کنفرانسی
زبان: English
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شناسه ملی سند علمی:
MIAE01_0342
تاریخ نمایه سازی: 18 تیر 1402
Abstract:
The efficient-market hypothesis (EMH) is one of the most important economic and financial hypotheses that have been tested over the past century. The stock market efficiency is the idea that equity prices of listed companies reveal all the data regarding the company value (Fama, ۱۹۶۵). In this way, there isn’t possible to make additional returns. Due to many abnormal phenomena and conflicting evidence, known as anomalies against EMH, that many theories have been developed to explain some anomalies. We give a brief review on market efficiency and clearly define different market anomalies, different theories of Behavioral Finance and types of investor biases that could be used to explain such market anomalies. In addition to providing ideas for market researchers, this study can be used by investors to apply correct investment policies.
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Authors
Mahya Karimzadeh Khosroshahi
MA. Student in financial management, Tehran,Iran.
Arman Malek
MA. Student in financial management, Tehran,Iran.