%0 Journal Article
%A Nedev, Bozhidar Nedev
%D 2021
%J Journal of Business Accounting and Finance Perspectives

%@ 2603-7475

%V 3
%N 1
%P 5

%T Cultural Specifics and the Momentum Effect on the Bulgarian Stock Exchange
%M doi:10.35995/jbafp3010005
%U https://jbafp.archive.jams.pub/article/3/1/124
%X 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).