تحلیل واکنش سرمایه‏‌‌گذاران بر مبنای نظریۀ چشم‌انداز به نقاط مرجع ذهنی منتخب

References

Abarbanell, J. S. & Bushee, B. J. (1997). Fundamental Analysis, Future Earnings, and Stock Prices. Journal of Accounting Research, 35(1), 1–24.

Ahmad, M. & Wu, Q. (2022). Does herding behavior matter in investment management and perceived market efficiency? Evidence from an emerging market. Management Decision, 60(8), 2148-2173. 10.1108/MD-07-2020-0867

Antony, A. (2019). Behavioral finance and portfolio management: Review of theory and literature. Journal of Public Affairs, 20(2), e1996.

Badri, E. & Shavakhi Zavareh, A. R. (2010). Reference points, stock prices, and trading volume: Evidence from the Tehran Stock Exchange. Stock Exchange Journal, 3(12), 151-174. (in Persian)

Banz, R. W. (1981). The relationship between return and market value of common stocks. Journal of Financial Economics, 9(1), 3-18.

Beaver, W. & Morse, D. (1978). What determines price-earnings ratios? Financial Analysts Journal, 34(4), 65-76.

Beaver, W. H. & Ryan, S. G. (2000). Biases and lags in book value and their effects on the ability of the book-to-market ratio to predict book return on equity. Journal of accounting research, 38(1), 127-148.

Berthet V. (2022). The impact of cognitive biases on professionals’ decision-making: A review of four occupational areas. Frontiers in psychology, 12, 802439

Cragg, J. G. & Malkiel, B. G. (1982). Empirical Connection of the Growth Forecasts with Share-Valuation Models. In Expectations and the Structure of Share Prices (pp. 135-166). University of Chicago Press.

Ebrahimi Sarv Olia, M. H., Salimi, M. J. & Ghouchifard, H. (2020). The Effect of Investors' Myopic Loss Aversions (MLA) on Iinvestments in Stocks in Tehran Stock Exchange. Empirical Studies in Financial Accounting, 17(67), 89-124. doi: 10.22054/qjma.2020.46611.2055 (in Persian)

Economou, F., Kostakis, A. & Philippas, N. (2010). An examination of herd behavior in four mediterranean stock markets. In Proceedings of the european economics and finance society conference paper, 1(1), 1–20.

Faghihzadeh, P., Foroghi, D. & Hamidian, N. (2024). Impact of Company and Market Information Uncertainty on Investors' Cognitive Dissonance Regarding Earning Announcement. Accounting and Auditing Review, 31(3), 573-597. doi: 10.22059/acctgrev.2024.375900.1008946 (in Persian)

Fama, E. F. & French, K. R. (1992). The cross-section of expected stock returns. The Journal of Finance, 47(2), 427-465.

Fama, E. F. & French, K. R. (2000). Forecasting profitability and earnings. The Journal of Business, 73(2), 161-175.

Farhadi, R., Sagafi, A. & Taghavifard, M. T. (2015). Risk of Beta: Evidences from prospect theory. Empirical Studies in Financial Accounting, 12(45). doi: 10.22054/qjma.2020.1094.1061 (in Persian)

Feng, L. & Seasholes, M. S. (2005). Do investor sophistication and trading experience eliminate behavioral biases in financial markets? Review of Finance, 9(3), 305–351.

Ferris, G. R., Russ, G. S. & Fandt, P. M. (2013). Politics in organizations. In Impression management in the organization (pp. 143-170). Psychology Press.

Ferris, G.R., Russ, G.S. & Fandt, P.M. (1989) Politics in Organizations. Impression Management in the Organization, 1989, 143-170.

Ghaemi, M. H., Masomi, J. & Azadi, M. (2011). Measuring Abnormal Return in Trading Halt Condition. Financial Accounting Research, 3(3), 113-126. (in Persian)

Ghalibaf Asl, H. & Sadeghi Batani, M. (2011). Examining the effect of maximum and minimum stock prices as a reference point on trading volume in the Tehran Stock Exchange. Economic Research Journal (Allameh Tabataba'i University), 11(43), 129-142.
(in Persian)

Gigerenzer, G., Hertwig, R., Hoffrage, U. & Sedlmeier, P. (2008). Cognitive illusions reconsidered. Handbook of experimental economics results, 1, 1018-1034.

Haghighat, H. & Alavi, S. M. (2013). Investigation the Relationship between Earnings Transparency and Abnormal Returns in Tehran Stock Exchange. Financial Accounting Research, 5(1), 1-12. (in Persian)

Haritha, P.H. & Abdul Rishad, A. (2020). An empirical examination of investor sentiment and stock market volatility: evidence from India. Financial Innovation, 6(1), 34.

Hekmat, H., Rahmani, A., Melanazari, M., Mousavi, M. H. & Ghalibaf Asl, H. (2020). Accounting information and stock market efficiency at the semi-strong level. Empirical Research in Accounting, 10(2), 23–50. (in Persian)

Jafari, S., Garkaz, M., Saeedi, P. & Matoofi, A. (2021). Examining the role of psychological and functional factors on investors’ willingness to invest in the stock market: The mediating role of investor satisfaction and perceived risk. Financial Knowledge of Securities Analysis, 14(2), 45–66. (in Persian)

Jamshidi, N. & Ghalibaf Asl, H. (2020). Analysis of the trading behavior of individual and institutional investors in the Tehran Stock Exchange from the perspective of behavioral biases and effective factors. Financial Knowledge of Securities Analysis, 46, 159–178.
(in Persian)

Kahneman, D. & Tversky, A. (2013). Prospect theory: An analysis of decision under risk. In Handbook of the fundamentals of financial decision making: Part I (pp. 99-127).

Kang, J.  & Zhang, L. (2008). Levered returns. Journal of Financial Economics, 88(1), 1-21.

Kim, D.  & Park, K. (2005). Size effect in the Korean stock market. Emerging Markets Review, 6(3), 22-37.

Li, Z., Wen, F. & Huang, Z. J. (2023). Asymmetric response to earnings news across different sentiment states: The role of cognitive dissonance. Journal of Corporate Finance, 78, 102343.

Liang, Z. & Qamruzzaman, M. (2022). An asymmetric investigation of the nexus between economic policy uncertainty, knowledge spillover, climate change, and green economy: evidence from BRIC nations. Frontiers in Environmental Science, 9, 807424.

Mohammadi, A. (2016). Examining investor behavior in Tehran Stock Exchange. Journal of Financial Management, 8(2), 73-90. (in Persian)

Molodovsky, N. (1995). A theory of price–earnings ratios. Financial Analysts Journal, 51(1), 29-43.

Nayeb Mohseni, S., Khalifeh Soltani, S. A. & Hejazi, R. (2021). Developing a behavioral decision-making model for individual investors in the Iranian capital market. Financial Research, 23(4), 625–652. (in Persian)

Ofir, M. & Wiener, Z. (2012). Investment in financial structured products from rational and behavioral choice perspectives. Available at SSRN 2193282.

Peasnell, K.V. (1982). The function of a conceptual framework for corporate financial reporting. Accounting and Business Research, 12(48), 243-256.

Penman, S. H. & Sougiannis, T. (1998). A comparison of dividend, cash flow, and earnings approaches to equity valuation. Contemporary accounting research, 15(3), 343-383.

Penman, S. H. (1996). The articulation of price-earnings ratios and market-to-book ratios and the evaluation of growth. Journal of accounting research, 34(2), 235-259.

Qamruzzaman, M. (2023). Nexus between economic policy uncertainty and institutional quality: evidence from India and Pakistan. Macroeconomics and finance in emerging market economies, 16(3), 389-408.

Qu, Z., Liu, X. & He, S. (2019). Abnormal returns and idiosyncratic volatility puzzle: Evidence from the Chinese stock market. Emerging Markets Finance and Trade, 55(5), 1184-1198.

Rasool, N. & Ullah, S. (2020). Financial literacy and behavioural biases of individual investors: empirical evidence of Pakistan stock exchange. Journal of Economics, Finance and Administrative Science, 25(50), 261-278. DOI: 10.1108/JEFAS-03-2019-0031

Ritter, J. R. (2003). Behavioral finance. Pacific-Basin finance journal, 11(4), 429-437. DOI: 10.1016/S0927-538X(03)00048-9

Ryan, S. G. (1995). A model of accrual measurement with implications for the evolution of the book-to-market ratio. Journal of Accounting Research, 33(1), 95-112.

Sachdeva, M., Lehal, R., Gupta, S. & Gupta, S. (2022). Influence of contextual factors on investment decision-making: A fuzzy-AHP approach. Journal of Asia Business Studies, 17(1), 108-128. 10.1108/JABS-09-2021-0376

Saghafi, A. and Hasanzadeh Diva, S. M. (2021). Managerial Motivations in Fraudulent Financial Reporting According to Cumulative Perspective Theory. Accounting and Auditing Review, 28(4), 598-615. doi: 10.22059/acctgrev.2021.312927.1008460
(in Persian)

Saidi, A.  & Farhanian, S. M. J. (2011). Herd behavior of investors in Tehran Stock Exchange. Securities Exchange, 4(16), 175-198. (in Persian)

Shefrin, H. & Statman, M. (1985). The disposition to sell winners too early and ride losers too long: Theory and evidence. The Journal of finance, 40(3), 777-790.

Shefrin, H. (2000). Behavioral Corporate Finance, Journal of Applied Corporate Finance, 14(3). 113-126.

Simon, H. A. (1979). Rational decision making in business organizations. The American economic review, 69(4), 493-513.

Simon, H. A. (1979). Rational decision making in business organizations. The American economic review, 69(4), 493-513.

Sloan, R. G. (1996). Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings? The Accounting Review, 71(3), 289–315.

Tehrani, R. & Nourbakhsh, A. (2017). Decision-making model under risk conditions in the Tehran Stock Exchange based on dynamic reference point. Asset Management and Financial Studies, 5(2), 51–68. (in Persian)

Thaler, R. H.  & Sunstein, C. R. (2008). Nudge: Improving decisions about health, wealth, and happiness. Yale University Press.

Thaler, R. H. (2008). Mental accounting and consumer choice. Marketing Science, 27(1), 15–25.

Tsaia, Y.S., Tzang, S.W., Chang, C.P. & Chuang, R.T. (2024). The Impact of Investor Sentiment on Abnormal Returns and Abnormal Volumes - The Study of ESG Event. In: Barolli, L. (eds) Innovative Mobile and Internet Services in Ubiquitous Computing. IMIS 2024. Lecture Notes on Data Engineering and Communications Technologies, vol 214. Springer, Cham. https://doi.org/10.1007/978-3-031-64766-6_40

Tseng, S. Y. & Rd, F. (2011). The role of information searches in investment choice variation: Digital information, advice seeking and heuristics. African Journal of Business Management, 5(12), 4934.

Weixiang, S., Qamruzzaman, M., Rui, W. & Kler, R. (2022). Retracted: An empirical assessment of financial literacy and behavioral biases on investment decision: Fresh evidence from small investor perception. Frontiers in psychology, 13, 977444.

Ziobrowski, A. J., Cheng, P., Boyd, J. W. & Ziobrowski, B. J. (2004). Abnormal returns from the common stock investments of the US Senate. Journal of financial and quantitative analysis, 39(4), 661-676.