All of the data such as closing prices, stock dividends and market indexes used in this study is collected from Borsa Istanbul via Matriks Metastsock downloader software covering the period from 1997
Building on recent developments in behavioral asset pricing, we develop a model in which dispersion of investor beliefs under short-selling constraints drives a firm's stock price above its fundamenta
Stock market prices, a measure of the marginal cost of installed capital, are procyclical. Yet, prices of investment goods, the main input into new installed capital, are countercyclical. We exploit t
