نویسندگان
1 استادیار دانشکده مدیریت و علوم اجتماعی دانشگاه آزاد اسلامی، واحد تهران شمال، ایران
2 کارشناسیارشد مدیریت بازرگانی، گرایش مالی، دانشگاه آزاد اسلامی، واحد تهران شمال، ایران
چکیده
کلیدواژهها
عنوان مقاله [English]
نویسندگان [English]
Contrarian and momentum investing strategies are two techniques which are used in stock markets to enhance portfolio return.
Contrarian investing strategy states that stocks which had better performances in the past should be sold and stocks that had poor performances should be bought. In practice, this strategy is used for a package of stocks and for portfolio formation.
The main objective of this paper is to investigate the profitability of using Contrarian investing strategy in Tehran Stock Exchange (TSE). The sample period used is from the early 2002 until the late 2007 for 70 listed companies in TSE.
The result of this paper shows that the average return on loser portfolio is statistically significant greater than winner portfolio for 12 and more months after portfolio formation.
کلیدواژهها [English]
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