The impact of internal factors in the formation of speculative bubbles stock in Tehran Stock Exchange

negar noveiri delshad¹

1) Kooshyar non-profit University of Rasht, Iran -

IOI Code : XYCG-AEABZ
Publication : international conference of Management Elites(icme.ir)
Abstract :
    One of the factors affecting the price level has been fluctuating prices are bubbles, bubbles in the prices due to market disruption occurs in the current process correct information. And ignoring the price factor, will impose costs on the national economy. In markets where corporate performance information is not available or available to market participants will be gradual, Investors will be difficult to choose the best investment opportunities and the optimum process of mobilization and allocation of resources is diverted from its original path. The market also suffers from inefficiency, there is the possibility of a bubble in the level of prices, because the main reason for the emergence of asset price bubbles and are finding intrinsic value of complete unawareness of market prices. The purpose of this study, the effect of internal factors in the formation of speculative bubbles stock and Tehran Stock Exchange for years 1388 to 1393. The model used in this study to identify bubbles, is the logistic regression model. The results of tests This study also showed that the Tehran Stock Exchange in the period 1388 to 1393 has been speculative bubbles And internal factors of the company s stock price bubbles as well as bubble through the statistic was evaluated Dickey Fuller And results of the companies surveyed indicated that bubble stability in most companies surveyed are. In the second test research hypotheses, findings revealed that there is a significant relationship between information transparency and bubbles stock price And the third hypothesis testing study findings showed that there is a significant relationship between stock liquidity and speculative bubbles Finally, the fourth hypothesis test showed that there is a significant relationship between company size and price bubble.

Keywords : price bubble stock exchange company size stock liquidity transparency information