Presenting the model of investment anomalies’ measurement based on management efficiency | ||
| International Journal of Nonlinear Analysis and Applications | ||
| مقاله 14، دوره 16، شماره 10، دی 2025، صفحه 141-148 اصل مقاله (397.75 K) | ||
| نوع مقاله: Research Paper | ||
| شناسه دیجیتال (DOI): 10.22075/ijnaa.2024.33283.4953 | ||
| نویسندگان | ||
| Omid Dalir1؛ Taghi Torabi* 1؛ Mahnaz Rabiei1؛ Yeganeh Mosavi Jahromi2 | ||
| 1Department of Finance, Faculty of Management and Economy, Science and Research Branch, Islamic Azad University, Tehran, Iran | ||
| 2Department of Management and Economy, Payame Noor University, Tehran, Iran | ||
| چکیده | ||
| This article aims to explain how determining a company’s efficiency may explain investment anomalies. Investment anomalies point to a negative relation between company growth, adjusted rate of return, and future risk. When companies grow with plenty of investments, the market assumes this growth is positive news, but if the companies do not have the required skills for financing, the prices shall be lowered. The findings show that NSI, dAA, and IA anomalies are concentrated in companies with low returns. Furthermore, there is strong evidence that there is a strong relation between Manager-based efficiency and NSI anomaly and there is limited evidence that shows NOA efficiency plays a role in NSI, IA and NOA anomalies. | ||
| کلیدواژهها | ||
| Net Stock Issuance (NSI)؛ Dynamic Asset Allocation (dAA), Investment on Assets (IA) | ||
| مراجع | ||
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