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Applying the stock evaluation models on the Bulgarian stock market

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  • Doncho Donev

Abstract

This paper reviews the models for evaluation of shares and tests the applicability of each model for the Bulgarian stock market. After conducting series of research analyses by applying each model, the respective conclusions have been made regarding their applicability. An answer is given to the question which of the investigated stock evaluation models should be used to explain the obtained Bulgarian stock market returns and respectively to predict the future changes of this market. The models reviewed and tested are: ÑÀÐÌ, ÀÐÒ (regarding selected factors), the Fama Model and the French Model on the size and value, the Jagadeesh Model and the Titman Model on the momentum and a factor model on the effect of the liquidity on the expected yield.

Suggested Citation

  • Doncho Donev, 2016. "Applying the stock evaluation models on the Bulgarian stock market," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 109-124.
    • Handle: RePEc:bas:econth:y:2016:i:2:p:109-124
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation

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