An Overview of Literature on Stocic Market Anomalies

Abstract

The journey of this research endeavor started with a vision to assimilate the extant literature on stock market anomalies. The widely scattered concepts were attempted to bring together to create a holistic canvas and to understand the expedition of the discipline. The primary objective behind this effort was to appreciate the classical theories, understand how the neoclassical theories came into existence and further to recognize the possible research lacunas which need to be addressed for development of a robust contemporary theory. The review consists of 50 research papers distributed on the basis of theme and chronology. The different anomaly situations were identified and classified under major heads. Based on the review some critical observations are indicated and a two-dimension plot-matrix was constructed to understand the time line of literature development in this domain.