The paper describes the contrast between traditional economic theories, based on the assumption of absolute rationality of individuals (Fama, 1965) and behavioral finance, which takes the irrationality of the subject decision maker. Starting from previous studies (Agrawal and Tandon, 1994; Chen and Singal, 2003; and in particular Barone, 1990), the study attempted to verify the existence of anomalies of Italian stock market (MIB). The study was directed towards the exploration of the major calendar effects in the period 03/01/2005 30/12/2015.
The EMH and the market anomalies. An empirical analysis on Italian Stock Market
Rossi M
;Fattoruso G
2017-01-01
Abstract
The paper describes the contrast between traditional economic theories, based on the assumption of absolute rationality of individuals (Fama, 1965) and behavioral finance, which takes the irrationality of the subject decision maker. Starting from previous studies (Agrawal and Tandon, 1994; Chen and Singal, 2003; and in particular Barone, 1990), the study attempted to verify the existence of anomalies of Italian stock market (MIB). The study was directed towards the exploration of the major calendar effects in the period 03/01/2005 30/12/2015.File in questo prodotto:
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