Evidence of Short-Term Contrarian Effect in Abu Dhabi Firms

Evidence of Short-Term Contrarian Effect in Abu Dhabi Firms

Ghaith N. Al Eitan

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Omar Gharaibeh

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Bassam Alown

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to Al al-Bayt University

Evidence of Short-Term Contrarian Effect in Abu Dhabi Firms

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Abstract

This paper examines the existence of short-term contrarian profits in the Abu Dhabi securities exchanges (ADX) for the period of January 2005 through May 2015. This paper provides strong evidence of short-term contrarian profits. The results of this paper present statistically and economically significant profits in the Abu Dhabi stock market over all formation periods. The short-term contrarian strategy used in this paper produces significant average returns of 2.34%, per month over past six-month formation period. Therefore, to utilize from this strategy in ADX, an investor has to sell and buy a pastshort-term winner portfolio and short-term loser portfolio, respectively. The short-term contrarian profits in the ADX can be explained by three-factor model.

References

17 Cites in Article

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Ghaith N. Al Eitan. 2017. \u201cEvidence of Short-Term Contrarian Effect in Abu Dhabi Firms\u201d. Global Journal of Management and Business Research - C: Finance GJMBR-C Volume 16 (GJMBR Volume 16 Issue C9).

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GJMBR Volume 16 Issue C9

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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Classification

GJMBR-C Classification JEL Code: B26

Submission ReceivedDecember 16, 2015
Peer Review Double Blind
Handling Editor
Accepted January 1, 2016
Published January 15, 2016

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v1.2

Issue date

January 26, 2017

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Article Matrices

Total Score: 103

Country: Jordan

Subject: Global Journal of Management and Business Research - C: Finance

Authors: Omar Gharaibeh, Bassam Alown, Ghaith N. Al Eitan (PhD/Dr. count: 0)

View Count (all-time): 171

Total Views (Real + Logic): 3665

Total Downloads (simulated): 1865

Publish Date: 2017 01, Thu

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Total Views: 3665

Total Downloads: 1865

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