@Article{ AUTHOR = {Nedev, Bozhidar Nedev}, TITLE = {Cultural Specifics and the Momentum Effect on the Bulgarian Stock Exchange}, JOURNAL = {Journal of Business Accounting and Finance Perspectives}, VOLUME = {3}, YEAR = {2021}, NUMBER = {1}, PAGES = {0--0}, URL = {https://jbafp.archive.jams.pub/article/3/1/124}, ISSN = {2603-7475}, ABSTRACT = {This article analyses the relationship between the documented momentum effect on the Bulgarian Stock Exchange and the cultural characteristics of Bulgarian society on the basis of the 6-Dimensions Culture Model by Hofstede. Derived are possible behavioural biases, that could cause investors to underreact to firm-specific information, resulting in short-term return predictability. Outlined are implications for the relation between the rising of momentum effect and low individualism index, as identified on the Bulgarian Stock Exchange (BSE).}, DOI = {10.35995/jbafp3010005} }