—Behavioral finance attracts a great interest in
Russia, but there are few studies in this field due to limited
research base and a lack of literature on this topic. Such studies
are done at Financial University under the Government of
Russian Federation. The article outlines the stages of the
development of Behavioral finance in Soviet Union and modern
Russia. In the article the problems of the research on this topic
are stipulated. The process of developing, the basis of the
Behavioral finance in Russia is described. The results of some
behavioristic researches in Russian M&A and stock markets
are presented. The perspectives of the further development of
the Behavioral finance are outlined. The latest behavioristic
models of recognized scientists of Behavioral finance are
implemented in Russian markets. This is the original and
significant contribution to the implementation of Behavioral
asset pricing models in Russia and never was done before.
—Behavioral finance, behavioral valuation,
DHS model, overconfidence.
Semen Y. Bogatyrev is with the Financial University under the
Government of the Russian Federation, Russian (e-mail:
Cite:Semen Y. Bogatyrev, "Testing Behavioral Asset Pricing Models on Russian Financial Market," International Journal of Trade, Economics and Finance vol.5, no.1, pp. 48-51, 2014.