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86 14 Neal, R and Wheatley, S M (1998) "Do measures of investor sentiment predict returns?", Journal of Financial & Quantitative Analysis 33 15 Shleifer, A , Robert, V (1997) "The Limits of Arbitrage"[.]

86 14 Neal, R and Wheatley, S M (1998) "Do measures of investor sentiment predict returns?", Journal of Financial & Quantitative Analysis 33 15 Shleifer, A., Robert, V (1997) "The Limits of Arbitrage", Journal of Finance, 54, 375-421 16 Wang, Y., Keswani, A and Taylor, S J (2006) “The relationships between sentiment, returns and volatility”, International Journal of Forecasting, 22(1), 109123 17 Akhtar, H & Usama, A., 2016, Comparison of Disposition Effect, Evidence from Karachi and Nepal Stock Exchange, European Journal of Business and Management Volume 6, No 18 Amihud, Y., 2002, Illiquidity and Stock returns: cross-section and time-series effects, Journal of Fianancial Markets, 5, 31 – 56 19 Amihud, Y & Mendelson, H., 1986, Asset pricing and the bid-ask spread, Journal of Fianancial Economics, 17, 223 – 249 20 Ashraf, M., Waris, F & Saeed, S., 2014, Disposition Effect: Evidence from the karachi Stock Exchange, European Journal of Business and Management, 6, XI 21 Alkins, A B & Dyl, E A.m 1997, Transaction costs and holding periods for common stocks, Journal af Finamce, 52, 309 – 325 22 Banz, R W., 1981, The relation between return and market value of common stocks, Journal of Financial Economics, 9, – 18 23 Barberis, Thales, 2003, A survey of Behaviour Finance 24 Barber, B &Odean, T., 2011, The Behaviour of Individual Investors, University of California 25 Barberis, N &Xiong, W., 2009, What driver the Disposition Effect? An Analysis of a long-standing preferences based explanation, The Journal of Finance Volumne LXIV, No.2 26 Brennan, M J & Subrahmanyam, A., 1996, Market microstructure and asset pricing: on the compensation for illiquidity an stick returns, Journal of financial Economics, 13, 747 – 752 27 Chen, Gong-Meng, Kenneth A Kim, John R Nofsinger & Oliver M Rui, 2004, Behavior and Performance of Emerging Market Investors: Evidence from China, Working Paper

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