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JOURNAL OF APPLIED BUSINESS AND ECONOMICS
Are Financial Fundamentals Used to Value Investments or Do Investors
Follow the Market? Pre and Post 2008 Findings Are Compared
Author(s): Robert C. Jinkens
Citation: Robert C. Jinkens, (2014) "Are Financial Fundamentals Used to Value Investments or Do Investors Follow the Market? Pre and Post 2008 Findings Are Compared," Journal of Applied Business and Economics, Vol. 16, Iss. 2, pp. 123-132
Article Type: Research paper
Publisher: North American Business Press
Abstract:
This paper examines whether investors use financial fundamental, or whether they observe other people
whom they perceive are making profitable decisions and then do the same as they are doing. The paper
divides the study between large publicly held investments, and small closely held ones. The results were
that investors mostly use financial fundaments, but that significantly large portions of investors mimic the
results of other investors to make decisions. Further, investors rely more on financial fundamentals for
small private investments than for large public investments, and that there was a structural break in
2008.
