The impact of Sentimental Decision Investors and fundamental variables techniques on stock returns in Tehran Stock Exchange

Subject Areas : Financial Knowledge of Securities Analysis

کبری سرلک ¹ (مسئول مکاتبات)
زهرا علیپور درویش ² (ندارد)
حمید رضا وکیلی فرد ³ (ندارد)

Received: 2012-06-21 Accepted : 2012-09-10 Published : 2013-03-10

Keywords: Finance-behavioral, Arms, Basic Techniques, Stock Return,

Abstract :

Field of behavioral finance because of the focus on cognitive factors in decision making,judgment and information processing have been important. So by using the describedbehavior in financial decision making and basic techniques, more precise criteria forbuying and selling shares to investors are developed. This study examines the impact ofemotional investment decisions (ARMS) and the variables fundamental techniques onstock returns from 1384 to 1389. There is a significant relationship between threevariables of the variables studied, ARMS, the rate of return on assets and current assets tocurrent liabilities percentage change with stock returns. Based on the expectedrelationship between the three variables mentioned above (ARMS, rate of return on assetsand the percentage changes in current assets to current liabilities) at the Tehran StockExchange with stock returns, agrees with the relationship documented in financialliterature.