بررسی استراتژی های شتاب ومعکوس در بورس اوراق بهادار تهران

The profitability of momentum and contrarian strategies indicates the predictability of stock returns, so these strategies contradict the concept of market efficiency. This paper investigates the profitability of intermediate and short-term horizon trading strategies in Tehran Stock Exchange. To do this, a sample of 50 companies accepted in Tehran Stock Exchange for the period of 2002 to 2007 was selected. Considering the results of the research, the effect of momentum strategy in short term in Tehran Stock Exchange was evident. There is, however, no evidence of contrarian behavior.