Applying the stock evaluation models on the Bulgarian stock market

Doncho Donev

Economic Thought journal, 2016, issue 2, 109-124

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.

JEL-codes: G12 G17 (search for similar items in EconPapers)
Date: 2016
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