Designing a Novel Model for Stock Price Prediction Using an Integrated Multi-Stage Structure: The Case of the Bombay Stock Exchange

Stock price prediction is considered a strategic and challenging issue in the stock markets. Considering the complexity of stock market data and price fluctuations, the improvement of effective approaches for stock price prediction is a crucial and essential task. Therefore, in this study, a new model based on “Adaptive Neuro-Fuzzy Inference System (ANFIS), Particle Swarm Optimization (PSO) and Genetic Algorithm (GA)” is employed to predict stock price accurately. ANFIS has been utilized to predict stock price trends more precisely. PSO executes towards developing the vector, and GA has been utilized to adjust the decision vectors employing genetic operators. The stock price data of top companies of the Bombay Stock Exchange (BSE) from 2010 to 2020 are employed to analyze the model functionality. Experimental outcomes demonstrated that the average functionality of our model (77.62%) was achieved noticeably better than other methods. The findings verified that the ANFIS-PSO-GA model is an efficient tool in stock price prediction which can be applied in the different financial markets, especially the stock market

Designing a Novel Model for Stock Price Prediction Using an Integrated Multi-Stage Structure: The Case of the Bombay Stock Exchange

Keywords: Stock Price Prediction, Technical Analysis, ANFIS, PSO, GA Stock price prediction is considered a strategic and challenging issue in the stock markets. Considering the complexity of stock market data and price fluctuations, the improvement of effective approaches for stock price prediction is a crucial and essential task. Therefore, in this study, a new model based on “Adaptive Neuro-Fuzzy Inference System (ANFIS), Particle Swarm Optimization (PSO) and Genetic Algorithm (GA)” is employed to predict stock price accurately. ANFIS has been utilized to predict stock price trends more precisely. PSO executes towards developing the vector, and GA has been utilized to adjust the decision vectors employing genetic operators. The stock price data of top companies of the Bombay Stock Exchange (BSE) from 2010 to 2020 are employed to analyze the model functionality. Experimental outcomes demonstrated that the average functionality of our model (77.62%) was achieved noticeably better than other methods. The findings verified that the ANFIS-PSO-GA model is an efficient tool in stock price prediction which can be applied in the different financial markets, especially the stock market

Auditor style, auditor changes and financial statements comparability

The term auditor style to determine a unique set of internal working rules each audit firm to perform audit standards and application generally accepted accounting principles between their clients are used. Audit style implies that two companies audited by the same auditor, subject to the same audit style, are more likely to have comparable earnings than two firms audited by two different audit firms with different styles. The sample consists of 44 companies listed in Tehran Stock Exchange for the period 2002 to 2013. The tests are based on pairs of firms and a total of 1958 pairs of firms as observations are used. In the present study used correlation method and multiple regression and is performed regression analysis for hypothesis test. The findings show that the clients of audit firms in the same industry and year than to their non-clients have more similar in accruals and earnings structure. Also the auditor style has an effect on clientele accruals, and that a change to the same auditor leads to more similar accruals. However, there is no evidence that a change to different auditors reduced comparability in the post-switch period. Finally the findings show that audit style is effective to comparability of financial statements

Auditor style, auditor changes and financial statements comparability

The term auditor style to determine a unique set of internal working rules each audit firm to perform audit standards and application generally accepted accounting principles between their clients are used. Audit style implies that two companies audited by the same auditor, subject to the same audit style, are more likely to have comparable earnings than two firms audited by two different audit firms with different styles. The sample consists of 44 companies listed in Tehran Stock Exchange for the period 2002 to 2013. The tests are based on pairs of firms and a total of 1958 pairs of firms as observations are used. In the present study used correlation method and multiple regression and is performed regression analysis for hypothesis test. The findings show that the clients of audit firms in the same industry and year than to their non-clients have more similar in accruals and earnings structure. Also the auditor style has an effect on clientele accruals, and that a change to the same auditor leads to more similar accruals. However, there is no evidence that a change to different auditors reduced comparability in the post-switch period. Finally the findings show that audit style is effective to comparability of financial statements

Auditor Style and Comparability of Financial Statements: a Comparison of Audit Style in Iran and U.S.A.

The term auditor style is used to determine a unique set of internal working rules each audit firm employs to perform audit standards and application generally accepted accounting principles between their clients. Audit style implies that two companies audited by the same auditor, subject to the same audit style, are more likely to have comparable earnings than two firms audited by two different audit firms with different styles. The sample consists of 63 companies listed in Tehran Stock Exchange for the period 2002 to 2013. The tests are based on pairs of firms and a total of 4344 pairs of firms as observations are used. In the present study correlation method and multiple regression are used and the means for comparing hypothesis test are performed. The findings show that the audit style of audit firms in the U.S leads to more similar in total accruals and discretionary accruals for their clients than to clients of audit firms in Iran. In other words, the comparability of financial statements of U.S companies with Iranian ones indicates more similarity in accruals and earnings structure

Auditor Style and Comparability of Financial Statements: a Comparison of Audit Style in Iran and U.S.A.

The term auditor style is used to determine a unique set of internal working rules each audit firm employs to perform audit standards and application generally accepted accounting principles between their clients. Audit style implies that two companies audited by the same auditor, subject to the same audit style, are more likely to have comparable earnings than two firms audited by two different audit firms with different styles. The sample consists of 63 companies listed in Tehran Stock Exchange for the period 2002 to 2013. The tests are based on pairs of firms and a total of 4344 pairs of firms as observations are used. In the present study correlation method and multiple regression are used and the means for comparing hypothesis test are performed. The findings show that the audit style of audit firms in the U.S leads to more similar in total accruals and discretionary accruals for their clients than to clients of audit firms in Iran. In other words, the comparability of financial statements of U.S companies with Iranian ones indicates more similarity in accruals and earnings structure

Behavioral trading strategies and investor sentiment: Empirical research in Tehran stock exchange (TSE)

In this study, we analyze contrarian and momentum strategies in periods associated with optimism or pessimism, and we compare them to the normal market sentiment condition. We evaluate the sentiment using the Arms adjusted index. Then, using the vector autoregressive test, we analyze the relationships among sentiment, stock returns, excess returns, and volatility. The results show that the formation of a short-term portfolio in one- and three-month periods of optimism and pessimism do not create additional returns and results in losses. In addition, the outcomes indicate that combining normal market sentiment with behavioral finance strategies increases performances, with more significant results seen using contrarian strategies compared to momentum strategies.</p

Behavioral trading strategies and investor sentiment: Empirical research in Tehran stock exchange (TSE)

In this study, we analyze contrarian and momentum strategies in periods associated with optimism or pessimism, and we compare them to the normal market sentiment condition. We evaluate the sentiment using the Arms adjusted index. Then, using the vector autoregressive test, we analyze the relationships among sentiment, stock returns, excess returns, and volatility. The results show that the formation of a short-term portfolio in one- and three-month periods of optimism and pessimism do not create additional returns and results in losses. In addition, the outcomes indicate that combining normal market sentiment with behavioral finance strategies increases performances, with more significant results seen using contrarian strategies compared to momentum strategies