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The Influence of Stock Market Participants' Expectations on Future Returns from Theoretical and Empirical Viewpoints

Student: Konstantin Polovinko

Supervisor: Victoria V. Dobrynskaya

Faculty: Faculty of Economic Sciences

Educational Programme: Financial Markets and Financial Institutions (Master)

Year of Graduation: 2017

The study provides research of the influence of stock market participants' expectations on future returns. Regression analysis and forward testing are conducted and theoretical concept is proposed. As a result it was revealed that expectations have a significant impact on future stock returns and have practical applicability for portfolio management. A theoretical concept is also proposed.

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