چکیده:
In the Tehran Stock Exchange in the year 1383, we witnessed a fall in the total index. Experts and officials, considering certain observations, each mention the root of the crisis in the stock exchange in a specific way, but they cite the disproportionate increase in prices in the year 1382 and the first half of the year 1383 as the main reason for the price crash. In economic literature, the deviation of the market price of a commodity from its equilibrium price is called a bubble. In fact, when the price of an asset deviates from its intrinsic value, which is determined by fundamental factors, and after a period of sudden growth, it crashes, a bubble has occurred. This research investigates the relationship between the amount of free float shares and the occurrence of price bubbles in companies listed on the Tehran Stock Exchange. Free float shares are a percentage of a company's capital that is available to investors for trading in the stock market and can be traded without any restrictions. The results obtained from testing the research hypotheses in the period from 1381 to 1385 show that there is a significant relationship between the amount of free float shares of companies and the occurrence of price bubbles, and companies that have a free float share amount of less than 20 percent are more exposed to price bubbles compared to other companies.
خلاصه ماشینی:
Investigating the relationship between the amount of free float shares and the creation of price bubbles in companies listed on the Tehran Stock Exchange 1 Dr. Hamidreza Vakilifard Date of receipt: 89/5/15 2 Date of acceptance: 89/8/28 Dr. Ghodratollah Talebnian 3 Mehrdad Keyani Abstract In the Tehran Stock Exchange, we witnessed a fall in the total index in the year 1383.
In this research, the relationship between the amount of free float shares and the occurrence of a price bubble in companies listed on the Tehran Stock Exchange has been investigated.
The results obtained from testing the research hypotheses in the period from 1381 to 1385 show that there is a significant relationship between the amount of free float shares of companies and the occurrence of a price bubble.
Free float shares, price bubble, stock exchange 1- Introduction The capital market, as one of the most important investment options, is considered a suitable position for attracting capital, and investors choose their desired stocks by considering the degree of risk-taking and expected return.
If a company's free float shares are high, its stock market will potentially be more liquid, its price fluctuations will be lower, and consequently, the investment risk will be less, which leads to an increase in demand (B.
05, therefore the null hypothesis is rejected at a 95 percent confidence level; in other words, there is a significant relationship between the variable of free float shares percentage and being a bubble or non-bubble company.
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