Momentum Strategies Based on Reference Points; Evidence from Adjustment and Anchoring Bias
Objective: According to empirical financial studies, a momentum investment strategy can lead to excess returns in the medium term. One of the driving factors of momentum return is adjustment and anchoring bias. Investors’ anchor to reference point price and consequent price adjustment drive momentum...
| Main Authors: | , , |
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| Format: | Article |
| Language: | fas |
| Published: |
University of Isfahan
2020-03-01
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| Series: | Journal of Asset Management and Financing |
| Subjects: | |
| Online Access: | https://amf.ui.ac.ir/article_23223_5c78a95b6560e4c5f31310144a5710c3.pdf |