2017          3-4 2017

˲Ͳ ˲Ͳ ϲ ˲ Բ ʲ


, . , .

: , , . , , , , , .

. , , , , , , , , , , , , . , ³ .., .., .., .., .., .., .

. , , .

. , . , , , , ᒺ . , , (.1):

()

( ), 1880-1910 . , ӳ , г . : 1. , ; 2. () , () ; 3. : ,

, 1900 . , ; ()

() , 1953 . , (1973) ( ),

ó , 1965 . ,

, 1974 . , . , (.)

ó , 1982 . , ,

, 1987 . ,

ó , 1990 . (, , , ),

ó , 1999 . ,

: [3-9]

, , . , , , 1965 , , , , [2, . 10]. ϳ , . , , ӳ Գ . , , 1952 ., , . ֳ , , .̳ , , , .

, : 1974 . , , , . , , , , , , .

, . , , .

ϳ , , , , . [1, .28]

, , , , , . [2, .29]

2:

˳

ᒺ , , ᒺ , , , ,

. ᒺ ,

ֳ . () ( ) ᒺ . , ( )

⳻ , ᒺ ,

: [1, c29]

, . ó , . , , , , , / . , , , .

, , , 䳿 . , , . ; . . ' , , , . ó . , , , . ó ., , , , , , , .

, , . , ɺ , 쳿 2013 , . , .

̳ , , . , , 볿 . , [2, .43]. ϳ : , , , . , , . [2, .44] ֳ , , , ( ?) , . [2, .45]

(.3):

,

ó

()

,

ó

ó

ó

:

, , , , , . , , , .

1. , . : - : / . . [ .]; -. - . : "", 2008. - 352 .

2. , . . [] / ; . . [. , . , . ]. - . : , 2009. - 247 .

3. , . ; : [] : . . / . ; . . . . - . : -, 1996. - 416 .

4. . . -;[]. . / ; , 2006. 512 .

5. , . [] : : . . / , , ; . . . . - : , 2005. - 630 .

6. , . () : - . . - .: ³, 2006.

7. Andrew W. Lo, A. CraigMacKinlay. A Non-RandomWalkDownWallStreet. PrincetonUniversityPress, 2012 448 .

8. Vaga, Tonis. TheCoherentMarketHypothesis. - Financial Analysts Journal, November-December 1990.

9. Fama, Eugene F., 1965, TheBehaviorofStockMarketPrices, JournalofBusiness 38, 34105.

REFERENCES

1. Kolodiziev, Oleg Mykolaiovych. Prognozuvannyavaliutnyhkursiv:makro- ta mikroekonomichniaspekty:monography / O. M. Kolodiziev[and others]; Kharkiv National Economic University - . :PH "INZHEK", 2008. - 352 p.

2. Bernstein, Peter.Fundamentalnyeideifinansovogomira. Evoliutsiya / Peter Bernstein ;per. s angl.[V. Ionova, . Zotagina, V. Ibragimova]. . : AlpinaBusinessBooks, 2009. - 247 p.

3. Soros, George. Alkhimiyafinansov; Rynok:kakchitategomysli: per. s angl. / G. Soros; Vstup. slovoP. T. Jones. . : Infra-M, 1996. - 416 p.

4. BertonG. Malkiel. SluchaynayaprogulkapoUoll-Strit; per. s angl. /SergeyBorich; Izdatelstvo Popurri, 2006. 512 p.

5. Kaneman, Daniel. Priniatieresheniyvneopredelennosti :Pravilaipredubezhdeniya : per. sangl. / DanielKaneman, PaulSlovik, AmosTversky; podred. G.V. Sukhodolskogo. - Kharkov: Gumanitarnyitsentr, 2005. - 630 p.

6. Mandelbrot,Benua. (Ne)slukhnianirynky:fraktalnarevoliutsiyaufinansah - prov. zangl. - M .: Vydavnychyi dim Viliams, 2006.

7. Andrew W. Lo, A. CraigMacKinlay. A Non-RandomWalkDownWallStreet. PrincetonUniversityPress, 2012 448 p.

8. Vaga, Tonis. TheCoherentMarketHypothesis. - Financial Analysts Journal, November-December 1990.

9. Fama, Eugene F., 1965, TheBehaviorofStockMarketPrices, JournalofBusiness 38, 34105.

[ PDF ]


:   , , , , , , , , , ,

в


Գ




  2001 - 2023  securities.usmdi.org