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.
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vakilifard, H., saeedi, A., & eftekhari, A. (2013). Behavioral Reactions An Analysis Based on the Data Derived from the Tehran Stock Exchange. Financial Management Strategy, 1(2), 33-52. doi: 10.22051/jfm.2014.961
MLA
hamidreza vakilifard; ali saeedi; akbar eftekhari. "Behavioral Reactions An Analysis Based on the Data Derived from the Tehran Stock Exchange". Financial Management Strategy, 1, 2, 2013, 33-52. doi: 10.22051/jfm.2014.961
HARVARD
vakilifard, H., saeedi, A., eftekhari, A. (2013). 'Behavioral Reactions An Analysis Based on the Data Derived from the Tehran Stock Exchange', Financial Management Strategy, 1(2), pp. 33-52. doi: 10.22051/jfm.2014.961
VANCOUVER
vakilifard, H., saeedi, A., eftekhari, A. Behavioral Reactions An Analysis Based on the Data Derived from the Tehran Stock Exchange. Financial Management Strategy, 2013; 1(2): 33-52. doi: 10.22051/jfm.2014.961