Strategia momentum na GPW w Warszawie
Momentum Strategy on the Warsaw Stock Exchange

Summary/Abstract: This paper evaluates explanations for the profitability of momentum strategies on the WSE. The analysis was conducted for the period 2005–2014. Momentum strategies are based on buying stocks with high returns over the previous 1–6 months and selling stocks with low re-turns over this same time. Strategies assume that the quotations of stocks tend to continue positive or negative tendencies of development. The evidence provides support for the behavioral models, but this support should be tempered with caution. The results are statistically significant only in the formation periods of 1 month.

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