Asymmetric Reaction of Investors to Market Risk, Illiquidity Risk, and Credit Risk: Evidence from Tehran Stock Exchange (TSE)

Moslem Peymany; Amir Hossein Erza; Farnaz Seifi

Volume 4, Issue 4 , 2020, , Pages 44-65

https://doi.org/10.30699/ijf.2020.121531

Abstract
  The relationship between risk and return is not symmetric under different circumstances. As the prospect theory describes, the value function which passes through the reference point is steeper for losses than gains (asymmetric risk appetite). But such an asymmetrical risk aversion could be traced in ...  Read More