Efficient Capital Markets: II

Fama, Eugene F.

doi:10.2307/2328565

Cited by 856 publications

(300 citation statements)

References 4 publications

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“…Although Fama's (1991) efficient market hypothesis suggests that past trends in stock prices carry no useful information for consumers to trade on, consumers typically do take into consideration past information about investment products . People prefer to buy past winners and sell past losers, even when neither should be preferred ).…”

Section: Methodsmentioning

confidence: 99%

Susceptibility to and impact of interpersonal influence in an investment context

Hoffmann

Broekhuizen

2009

J. of the Acad. Mark. Sci.

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This paper demonstrates the relevance of consumers' susceptibility to interpersonal influence (CSII) in an investment context. In Study 1, a survey of individual investors, investment-related knowledge, psycho-social risks, and social needs emerge as antecedents that explain investors' susceptibility to informational and normative influence. In turn, susceptibility to normative influences increases transaction frequency, whereas susceptibility to informational influences decreases transaction frequency. The experiments in Studies 2 and 3 indicate the impact of interpersonal influences on consumers' investment decisions in a voluntary (free choice) and involuntary (confrontation) setting and check whether CSII moderates the impact of interpersonal influences. Consumers' investment choices are consistently influenced by the information and opinions of others, whereas CSII only strengthens the impact of interpersonal influence in a voluntary informational setting.

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Section: Methodsmentioning

confidence: 99%

Susceptibility to and impact of interpersonal influence in an investment context

Hoffmann

Broekhuizen

2009

J. of the Acad. Mark. Sci.

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“…Although recent year have witnessed the growing popularity of various support systems, comprehensive and effective information systems that facilitate the real estate market continue to be in short supply. The scarcity of relevant information and objective knowledge results from the shortcomings of market effectiveness analyses (Case and Shiller, 1989;Fama, 1990;Kaklauskas et al, 2011;Renigier-Biłozor andWiśniewski 2012, Bilozor, 2014;Stec et. al.…”

Section: Relevant Literature -The Need For Property Market Ratingmentioning

confidence: 99%

Modern classification system of real estate markets

Renigier-Biłozo¹

2017

geod. vestn.

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“…Ioannou et al (2009), used ANNs in order to predict the future prices of fuelwood. It is obvious that within the last decade, there has been an increasing interest in surveying the predictable components in stock prices (Fama 1991). Patterns in asset prices improved stock-market forecast ability with different techniques (Fernandez-Rondriquez et al 1997).…”

Section: Literature Reviewmentioning

confidence: 99%

Forecasting Bank Stock Market Prices With a Hybrid Method: The Case of Alpha Bank / Vertybinių Popierių Kainų Prognozavimas Hibridiniu Metodu: Alpha Bank Pavyzdys

Koutroumanidis

Ιωάννου

Zafeiriou

2011

Journal of Business Economics and Management

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Abstract. The present study aims at constructing Confi dence Intervals (C.I) for the predicted values of a Time Series with the application of a Hybrid method. The presented methodology is complicated and thus is completed in different stages. Initially the Artifi cial Neural Networks (ANNs) is applied on the raw time series in order to estimate C.I of the forecasts. Then, the Bootstrap method is employed on the residuals generated by the preceded process. On the upper and lower limit of the estimated C.I., two new ANNs are employed in order to make point estimations (of the upper and lower limits) using of Object Oriented Programming. For the empirical analysis daily observations of the closing prices of Alpha Bank stocks have been used. The sample period is extended from 28/01/2004 until 30/11/2005. The nonstationarity of the time series employed in our study is not a forbidding condition for the estimation of the confi dence intervals, in our case, since the level of bootstrap still provides a satisfactory approximation for the roots arbitrarily close to unity (Berkowitz, Kilian 1996). The accuracy of the forecasts was surveyed with the use of different criteria and the results were satisfactory.

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Efficient Capital Markets: II

Cited by 856 publications

References 4 publications

Susceptibility to and impact of interpersonal influence in an investment context

Susceptibility to and impact of interpersonal influence in an investment context

Modern classification system of real estate markets

Forecasting Bank Stock Market Prices With a Hybrid Method: The Case of Alpha Bank / Vertybinių Popierių Kainų Prognozavimas Hibridiniu Metodu: Alpha Bank Pavyzdys

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