TY  - EJOU
AU  - Nedev, N. Bozhidar
TI  - Cultural Specifics and the Momentum Effect on the Bulgarian Stock Exchange
T2  - Journal of Business Accounting and Finance Perspectives

PY  - 2021
VL  - 3
IS  - 1
SN  - 2603-7475

AB  - 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).
KW  - G40
KW  - G41
KW  - G11
KW  - G12
DO  - 10.35995/jbafp3010005