محاولة قياس أثر التشوهات الموسمية على مردودية الأسهم في إطار نظرية المالية السلوكية : دراسة حالة سهم شركة بيجو خلال الفترة (2010-2016)‎

Abstract EN

The objective of this study is to measure the effect of seasonal distortions on the stock returns of the CAC40 index in the framework of the Theory of Behavioral Finance in practice during the period from 2nd January 2000 to 12th December 2016 at the Paris Stock Exchange.

The study examined three types of anomalies: impact of the weekends, impact of the end of the year (Impact of the month) and the impact of holidays.

The study found that these distortions affect the returns of the Peugeot index and therefore the market index despite the increase in the use of information technology and many organizational developments.

This is due, mainly, to the behavior of investors towards the different events in accordance to what is claimed by the theory of behavioral finance, which consolidates the idea that this new theory may be considered as a real challenge to the theory of the efficiency of financial markets, which is unable to explain this phenomenon in the context of its hypotheses