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2017 | 3(17) | 4 | 28-46
Article title

Stock price volatility and fundamental value: evidence from Central and Eastern European countries

Content
Title variants
Languages of publication
EN
Abstracts
EN
The paper deals with the problem of the discrepancy between fundamental values of shares in the stock market and their market prices. In particular it discusses the problem of the excessive volatility of stock prices compared with changes in their fundamental value determined as the present value of dividends paid by the company. The results of research on this issue for the US market initiated and popularized by Robert Shiller provided strong arguments against the hypothesis of capital market efficiency stating that stock prices immediately account for any new information affecting the fundamental value of assets. This problem has been studied neither for the Polish stock market nor for other post-communist countries in Central and Eastern Europe. The paper presents preliminary results of research into these stock markets.
Year
Volume
Issue
4
Pages
28-46
Physical description
Dates
published
2017-12-20
Contributors
author
  • University of Lodz, Department of Industrial Economics and Capital Markets, Rewolucji 1905 r. 41, 90-214 Lodz, Poland
  • University of Lodz, Department of Industrial Economics and Capital Markets, Rewolucji 1905 r. 41, 90-214 Lodz, Poland., ppietraszewski@uni.lodz.pl.
References
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Document Type
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.desklight-48703ad1-f860-4409-ae5c-acd9925ea5e8
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