Görüntüleme
49
İndirme
17
Overreaction hypothesis asserts that stocks with poor performance in the previous period earn positive risk-adjusted abnormal returns in the subsequent period. In contrast, stocks that perform better in the previous period earn negative risk-adjusted abnormal returns in the subsequent period. The imposition of the daily price limits is based upon the overreaction hypothesis, and its is assumed that by means of the daily price limits the overrreaction is bounded and hence the volatility is reduced. This paper tests the efficiency of the price limits by examining the price behaviour following limit moves in the İstanbul Stock Exchange, where the price limits are in practice.
Alan : Eğitim Bilimleri; Sosyal, Beşeri ve İdari Bilimler
Dergi Türü : Uluslararası
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