TESTING THE INFORMATIONAL EFFICIENCY AND RATIONAL BUBBLE IN TSE AND ITS SUBSECTIONS USING VARIANCE RATIO TEST AND STATIONARY TEST OF PRICE-DIVIDEND RATIO

Q: How can I download an article?

To download an article from SID, first log in to the site, search for the article title, and click on the 'Download Article' option.

Q: How can I download an ISI article?

To download an ISI article on SID, enter the keyword or article title in the search bar, view the relevant results, click on the desired article, and select the 'Download Article' option.

Q: How can I access the SID database?

To access the SID database, visit SID.ir, create an account, and log in to access scientific resources.

Q: Is downloading articles from SID free?

Some articles on SID are available for free, while others require payment. Details are specified on the article's page.

RAHNAMAY ROODPOSHTI F.; MADANCHI ZAJ M.; BABALOUYAN SH.

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

Journal Paper

Paper Information

Journal: FINANCIAL KNOWLEDGE OF SECURITY ANALYSIS (FINANCIAL STUDIES) Year:2012 | Volume:5 | Issue:14 Page(s): 59-75

Download Full-Text

Persian Verion

View:

1,099

Download:

Cites:

Information Journal Paper

Title

TESTING THE INFORMATIONAL EFFICIENCY AND RATIONAL BUBBLE IN TSE AND ITS SUBSECTIONS USING VARIANCE RATIO TEST AND STATIONARY TEST OF PRICE-DIVIDEND RATIO

Author(s)

RAHNAMAY ROODPOSHTI F. | MADANCHI ZAJ M. | BABALOUYAN SH. | Issue Writer Certificate

Keywords

INFORMATIONAL EFFICIENCYQ4

RATIONAL BUBBLEQ4

VARIANCE RATIO TEST AND INTRINSIC VALUEQ4

Abstract

In an efficient market, both the allocation of capital is done optimally and the stock price of firms is determined fairly. The bubbles in price of stocks may occur in inefficient markets, because the lack of information transparency is the major reason of bubble arising and the gap between intrinsic and market value.The purpose of this paper is investigating the INFORMATIONAL EFFICIENCY and RATIONAL BUBBLE in stock prices of Tehran Stock Exchange (TSE) and its subsections (TEFIX30, TX-50 and the principle 44 companies offered in TSE) in 1389 by using variance ratio test and stationary test of price-dividend ratios. The results indicate that:1- Total index of TSE an its subsections (TEFIX30, TX-50 and the principle 44 companies offered in TSE) is not weak form efficient in 1389.2- The null no bubble hypothesis of TSE and its subsections is rejected in 1389.3- There is direct relationship between inefficiency and bubble in 1389.

Cites

References

Cite

APA: Copy

RAHNAMAY ROODPOSHTI, F., MADANCHI ZAJ, M., & BABALOUYAN, SH.. (2012). TESTING THE INFORMATIONAL EFFICIENCY AND RATIONAL BUBBLE IN TSE AND ITS SUBSECTIONS USING VARIANCE RATIO TEST AND STATIONARY TEST OF PRICE-DIVIDEND RATIO. FINANCIAL KNOWLEDGE OF SECURITY ANALYSIS (FINANCIAL STUDIES), 5(14), 59-75. SID. https://sid.ir/paper/200298/en

Vancouver: Copy

RAHNAMAY ROODPOSHTI F., MADANCHI ZAJ M., BABALOUYAN SH.. TESTING THE INFORMATIONAL EFFICIENCY AND RATIONAL BUBBLE IN TSE AND ITS SUBSECTIONS USING VARIANCE RATIO TEST AND STATIONARY TEST OF PRICE-DIVIDEND RATIO. FINANCIAL KNOWLEDGE OF SECURITY ANALYSIS (FINANCIAL STUDIES)[Internet]. 2012;5(14):59-75. Available from: https://sid.ir/paper/200298/en

IEEE: Copy

F. RAHNAMAY ROODPOSHTI, M. MADANCHI ZAJ, and SH. BABALOUYAN, “TESTING THE INFORMATIONAL EFFICIENCY AND RATIONAL BUBBLE IN TSE AND ITS SUBSECTIONS USING VARIANCE RATIO TEST AND STATIONARY TEST OF PRICE-DIVIDEND RATIO,” FINANCIAL KNOWLEDGE OF SECURITY ANALYSIS (FINANCIAL STUDIES), vol. 5, no. 14, pp. 59–75, 2012, [Online]. Available: https://sid.ir/paper/200298/en

Related Journal Papers