نویسندگان
1 دانشیار حسابداری مالی دانشگاه آزاد
2 دانشگاه آزاد اسلامی واحد علوم و تحقیقات، دانشکده اقتصاد و مدیریت،
چکیده
کلیدواژهها
عنوان مقاله [English]
نویسندگان [English]
Throughout the field of behavioral finance, researchers faced with many exceptions in the financial markets, concluded that psychological phenomena play a major role in determining the behavior of the financial markets. In this research, different types of investors’ behavior are recognized in different time scales.
A general model for the Tehran Stock Exchange was designed, using the time series data, from 2006 to 2010. Wavelet analysis was utilized as a statistical and analytical tool to explain trait and multi resolution.
The research results show that investors exhibit different reactions after good or bad news. Their reactions on a long term scale are more distinct from those in the short term. The return of investment derived by price is different in various periods after good or bad news; it has the same trend as the direction of EPS adjustment in the short term. But this trend is not recognized in the long term, and is rather reversed.
کلیدواژهها [English]