Explain the behavior of the optimal portfolio choice than the standard financial

Subject Areas : Journal of Investment Knowledge

Majid Zanjirdar ¹ , Reza Mosavi ² , Maryam Saberi ³

1 - Assistant Professor of Islamic Azad University, Arak Branch
2 - Assistant Professor of Islamic Azad University, Arak Branch
3 - M.A. Student of Islamic Azad University, Arak Branch (Corresponding Author)

Received: 2013-08-08 Accepted : 2013-12-16 Published : 2013-12-16

Keywords: ANOVA, optimal portfolio,

Abstract :

The purpose  of this study explain the behavior of the optimal portfolio choice than the standard assumptions of classical finance is Markowitz. The 5-year interval of the listed companies in Tehran Stock Exchange for the years 1386-1389 were examined Between the 118 companies analyzed statistically compared using ANOVA and regression tests, Behavioral and mental accounting dominant influence on stocks and investment Optimal portfolio selection with higher yields than comparable financial misstatement was determined by standard The research consisted of two main hypothesis was that the first hypothesis was that the expected return on the portfolio choice behavior model Expected return is higher than the standard model that the measure was taken to confirm The second hypothesis was based on the claim that the portfolio's expected risk choice behavior model less Risk is the expected standard model with respect to the results achieved were acceptable.