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dc.contributor.authorNilsen, Fredrik Hebnes
dc.contributor.authorLind, Øyvind Andreas
dc.date.accessioned2014-02-11T14:10:17Z
dc.date.available2014-02-11T14:10:17Z
dc.date.issued2014-02-11
dc.identifier.urihttp://hdl.handle.net/11250/95123
dc.descriptionMasteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2014
dc.description.abstractIn this master thesis we examine the asymmetric volatility in stock market returns, i.e. why the stock market is more volatile in down turns than in up turns. By examining the Norwegian stock market, we find no support for the feedback hypothesis and conclude that the leverage effect at best is a weak explanation for the asymmetric volatility. We suggest that combining the traditional rational explanations with a behavioral approach will give a better understanding of the asymmetric volatility. Our data analysis supports prospect theory as a reasonable explanation for the asymmetric volatility in the market. Further, we find support for a heuristic explanation based on affect, representativeness and extrapolation bias. We also find a one day disposition effect, supporting a behavioral approach.no_NO
dc.language.isoengno_NO
dc.subjectfinansno_NO
dc.subjectfinanceno_NO
dc.titleStock market volatility : rationality and irrationalityno_NO
dc.typeMaster thesisno_NO


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