Abstract
The present research analyzes the effective factors on stock price bubble in the enterprises listed in Tehran Stock and Exchange Organization (TSEO) by focusing on monetary policies. Five variables of Gross Domestic Production (GDP), Production Implicit Index (PII), Liquidity of Money (LM), Interest Rate (IR), and Exchange Rate (EXR) have been utilized as effective factors on stock price bubble within the Iranian market space in this investigation. To test the research hypotheses, Time Series approach has been used for data within years (1991–2012) and also self-explanatory technique was adapted with Auto-Regressive Distributed Lag (ARDL). The results of approximation from research regression model suggest that there is a positive significant relationship between variables of GDP, Production Implicit Index (PII) and liquidity of Money (LM) with dependent variable (i.e. Stock Price Bubble Index or SPBI) and at the same time a negative significant relationship has been observed among variables of interest rate (IR) and exchange rate (EXR) with dependent variable (i.e. Stock Price Bubble Index or SPBI).
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