Long-Term Contrarian Profits in the Middle East Market Indices

Research Journal of Finance and Accounting, Vol. 6, No. 16, 2015

10 Pages Posted: 2 Nov 2015

Date Written: July 30, 2015

Abstract

This paper examines whether there is an existence of a long-term contrarian profits at the Middle East (ME) market indices. This paper shows strong evidence for the long-term contrarian strategy in the Middle East indices. The result of this study demonstrates that the long-term contrarian profits for the Middle East markets can’t be explained by two-factor model. In spite of whether winners are smaller or larger than losers, there are long-term abnormal profits. Finally, the findings in this paper suggest that the long-term contrarian profits may be stronger and more enveloping than is usually understood.

Keywords: long-term contrarian, Middle East (ME), market indices, two-factor model.

JEL Classification: G10

Suggested Citation

Gharaibeh, Omar Khlaif, Long-Term Contrarian Profits in the Middle East Market Indices (July 30, 2015). Research Journal of Finance and Accounting, Vol. 6, No. 16, 2015 . Available at SSRN: https://ssrn.com/abstract=2684807

Omar Khlaif Gharaibeh (Contact Author)

Al Albayt University ( email )

AL-Hashemia
Ajloun, 00962
Jordan

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