The over-reaction hypothesis suggests that if investors over-react then a contrarian strategy of buying losers and selling winners should earn significant abnormal returns. The results of the study show that there is an inverse relationship between size and observed returns in the Australian...

The United Arab Emirates (UAE) is a member of the Gulf Cooperating Council countries (GCC) and over recent years has indicated willingness for implementation of the economic reforms necessary for the future evolution of a modern, open stock market. This study uses relative valuation techniques...

The inconclusive nature of the over-reaction hypothesis, combined with an inherent difficulty in isolating specific determinants, has meant that the controversy surrounding this model has been perpetuated within the financial economics literature. It is the objective of this study to examine...