A REVIEW OF INVESTORS’ REACTION TO UNEXPECTED EVENTS IN TEHRAN STOCK EXCHANGE

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SAEIDA ARDAKANI SAEID; BAHLAKEH AYNAZ; MIRZAD NEGAR; TAVASSOLY TAHEREH SADAT

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Paper Information

Journal: FINANCIAL RESEARCH Year:2015 | Volume:17 | Issue:1 Page(s): 103-122

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Title

A REVIEW OF INVESTORS’ REACTION TO UNEXPECTED EVENTS IN TEHRAN STOCK EXCHANGE

Author(s)

SAEIDA ARDAKANI SAEID | BAHLAKEH AYNAZ | MIRZAD NEGAR | TAVASSOLY TAHEREH SADAT | Issue Writer Certificate

Keywords

REACTION OF INVESTORSQ2

STOCK EXCHANGEQ2

UNCERTAIN INFORMATION HYPOTHESISQ2

UNEXPECTED EVENTSQ2

Abstract

Unexpected economic and political events are considered important elements impacting investment decisions of the investors during stock transactions and changing the stock price in desirable or undesirable ways. The current study aims to provide a review on investors’ reaction to UNEXPECTED EVENTS in Tehran STOCK EXCHANGE market. For this purpose, the daily returns of the period spanning 1386-1391 have been reviewed as a sample of investors’ behavior based on the UNCERTAIN INFORMATION HYPOTHESIS. The findings indicate that occurrence of UNEXPECTED EVENTS will increase returns oscillation. Also, the results show that, regarding the desirable news, the REACTION OF INVESTORS corresponds to prediction of UNCERTAIN INFORMATION HYPOTHESIS, that is, the unusual revenue of stocks after desirable information is positive, but it would not verify the hypothesis of the prediction of undesirable news. In other words, behavior, after the desirable news, will follow the UNCERTAIN INFORMATION HYPOTHESIS; however, after the bad news, it would not follow this hypothesis. Also, for both, desirable and undesirable events, moderating and adjusting the stock price have gone downward.

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APA: Copy

SAEIDA ARDAKANI, SAEID, BAHLAKEH, AYNAZ, MIRZAD, NEGAR, & TAVASSOLY, TAHEREH SADAT. (2015). A REVIEW OF INVESTORS’ REACTION TO UNEXPECTED EVENTS IN TEHRAN STOCK EXCHANGE. FINANCIAL RESEARCH, 17(1 ), 103-122. SID. https://sid.ir/paper/91194/en

Vancouver: Copy

SAEIDA ARDAKANI SAEID, BAHLAKEH AYNAZ, MIRZAD NEGAR, TAVASSOLY TAHEREH SADAT. A REVIEW OF INVESTORS’ REACTION TO UNEXPECTED EVENTS IN TEHRAN STOCK EXCHANGE. FINANCIAL RESEARCH[Internet]. 2015;17(1 ):103-122. Available from: https://sid.ir/paper/91194/en

IEEE: Copy

SAEID SAEIDA ARDAKANI, AYNAZ BAHLAKEH, NEGAR MIRZAD, and TAHEREH SADAT TAVASSOLY, “A REVIEW OF INVESTORS’ REACTION TO UNEXPECTED EVENTS IN TEHRAN STOCK EXCHANGE,” FINANCIAL RESEARCH, vol. 17, no. 1 , pp. 103–122, 2015, [Online]. Available: https://sid.ir/paper/91194/en

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