Albrecht, Peter; Kantar, Cemil; Xiao, Yanying - Sonderforschungsbereich 504 "Rationalitätskonzepte, …; … - 2004
This paper investigates mean reversion effects in the German stock market. Recent studies have shown that stock prices tend to follow random walks over short horizons while there is empirical evidence for a mean-reverting behavior over long horizons. Considering fundamental values, we examine...