چگونه اثر حجم استراتژی سرمایه گذاران رومانیایی را تحت تاثیر قرار می دهد؟
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|14572||2012||6 صفحه PDF||سفارش دهید||محاسبه نشده|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Procedia Economics and Finance, Volume 3, 2012, Pages 722–727
The size effect implies that small firms experience large returns. This paper examines the size effect pattern on the Romanian stock market. The observation period was divided into sub–periods: January 2003 – December 2007 before crisis and January 2008 – December 2010 during crisis. We found that the size effect does not occur either before the financial crisis, or during the crisis. In the first part of the paper a review of literature regarding the existence of the size effect on different markets is presented. It could have been observed that the size anomaly is present and robust through the years in most countries of the world. Further on, the paper presents the methodology and the data that were used, but also the empirical results that were obtained for each observation period. In the last part of the paper, the conclusions that resulted from the analyses are presented, along with their importance for the investors when choosing an investment strategy.