We show that differences in investors risk aversion can generate herd behavior in stock markets where assets are traded sequentially. This in turn prevents markets from being efficient in the sense that Þnancial market prices do not converge to the asset’s fundamental value. The informational efficiency of the market depends on the distribution of the risky asset across risk averse agents. Thes...

T his paper investigates the existence of possible spillover effects among four main asset markets namely foreign exchange, stock, gold, and housing markets in Iran from 2002:03 to 2015:06. For this purpose, we have exploited Sigma-Point Kalman Filter (SPKF) to extract the bubble component of assets prices in the aforementioned Markets. Then, in order to analyze the price bubbles spi...

In this study, we use a Dynamic Stochastic General Equilibrium (DSGE) model to investigate the household portfolio channel of monetary and credit shocks transmission in Iran. In this regard, we developed a canonical New Keynesian DSGE model with financial and banking sectors. The model is estimated by Bayesian method for the period 1990-2012. The result showed that the current and expected pric...

Although gold is no longer a central cornerstone of the international monetary and financial system, it still attracts considerable attention from researchers and investors. Nowadays, many investors manage their risk with valuable assets such as gold. This paper examines the dynamic relationships between gold and stock markets in the Tehran Stock Exchange. We have applied the Markov switching m...

Do investments in customer satisfaction lead to excess returns? If so, are these returns associated with higher stock market risk? The empirical evidence presented in this article suggests that the answer to the first question is yes, but equally remarkable, the answer to the second question is no, suggesting that satisfied customers are economic assets with high returns/low risk. Although thes...

The purpose of this study is to determine the effect Return on Assets (ROA), Equity (ROE), Earning per Share (EPS), and Price Book Value (PBV) stock prices returns in manufacturing companies registered Indonesia Stock Exchange 2018-2020. This used 73 as sample using panel data regression analysis. results indicate that ROA has negative insignificant prices, positive significant returns; ROE EPS...


 This study was conducted to determine the effect of return on assets, equity and earnings per share stock prices banking companies listed Indonesia Stock Exchange in 2015-2021. uses quantitative methods with verification approaches. The research sample amounted 10 a period 7 years taken using purposive sampling technique so that number data studied 70 data. multiple linear regression ana...

This study aims to determine the effect of variables contained in fundamental and technical analysis stock prices. Variables used include Earning Per Share, Return On Assets, Book Value Price Value, Past Share Prices, Dup Ddown. Sample selection uses saturated samples by using all food beverage companies listed on Indonesia Stock Exchange 2014-2018 period. The data technique is regression SPSS ...

W integrate a case-based model of probability judgment with prospect theory to explore asset pricing under uncertainty. Research within the “heuristics and biases” tradition suggests that probability judgments respond primarily to case-specific evidence and disregard aggregate characteristics of the class to which the case belongs, resulting in predictable biases. The dual-system framework pres...