The Momentum Return and the Liquidity at the Tehran Stock Exchange

Abstract

Behavioral finance is a new field in financial theories that seeks to explain stock market anomalies by putting aside the assumptions of modern financial theories about rationality of the economic agents and efficiency of the markets. The effect of the momentum that is the continuation of price trend in medium term is one of these anomalies. To explain this subject, as stated above, there have been many investigations conducted on behavioral finance and the related influencing variables. The present article investigates the relationship between the momentum return and liquidity at the Tehran stock exchange. The findings of the study reveal that there is no specific pattern to affirm

Keywords

• Behavioral Finance
• Momentum
• Momentum Return
• Liquidity