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salience theory and pricing stock of corporates in tehran stock exchange
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نویسنده
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khaleghi kasbi parvaneh ,aghaei mohammad ali ,rezaei farzin
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منبع
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advances in mathematical finance and applications - 2018 - دوره : 3 - شماره : 4 - صفحه:1 -16
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چکیده
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How the investors react to the received information plays a crucial role in determining the return of stock exchange market. supply and demand based upon incorrect decisions lead to the price deviation of inherent values. this paper aims to study the impact of salience phenomenon on disproportionate pricing and investor overreaction in the corporates in tehran stock exchange. research methodology is correlative. statistical sample involves 120 corporates accepted by tehran stock exchange during 20122016. to test the hypotheses, a regression analysis method has been selected. research findings have indicated that there exists a promising phenomenon in tehran stock exchange causing the investors overreaction followed by the disproportionate pricing and also, the results have shown that the impact of salience is different on strong and weak information environments.
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کلیدواژه
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under risk selection ,salience ,disproportionate pricing ,overreaction
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آدرس
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islamic azad university, qazvin branch, department of accounting, ایران, tarbiat modares university, department of accounting, ایران, islamic azad university, qazvin branch, department of accounting, ایران
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پست الکترونیکی
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farzin.rezaei@qiau.ac.ir
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Authors
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