„THE-CASTLES-IN-THE AIR” INVESTMENT THEORY: AN EMPIRICAL STUDY
„THE-CASTLES-IN-THE AIR” INVESTMENT THEORY: AN EMPIRICAL STUDY
Author(s): Boryana BogdanovaSubject(s): Economy, National Economy, Supranational / Global Economy, Business Economy / Management, Financial Markets, Socio-Economic Research
Published by: Бургаски свободен университет
Keywords: stock market bubble; investment theory; wavelet analysis; EMA trading rule
Summary/Abstract: The goal of this paper is to study empirically the Malkiel’s „castles in the air theory”. The research framework builds up on two hypotheses. The first one considers the Greenspan’s „irrational exuberance” as being the core driver behind boosted stock prices, which eventually results into a blown-off bubble. The other one views the bubble occurrence as a superimposition of several cyclical waves reaching their peaks (or possibly bottoms) simultaneously.
Journal: Съвременни управленски практики
- Issue Year: 2016
- Issue No: IX
- Page Range: 66-74
- Page Count: 9
- Language: English
