An Analysis of Bull and Bear Markets in the U.S. and Norway

2017

Master's thesis Business Administration BE501 - University of Agder 2017 There is no previous research on the dating of bull and bear cycles in the Norwegian stock market. Even for the U.S., few researchers have conducted a thorough analysis of the bull and bear markets. The purpose of this thesis is to provide an analysis of bull and bear markets in the U.S. and Norway from 1914 to 2016. Bull and bear markets are identi ed using a formal dating method. We divide our datasets into two sub-periods, to account for the robustness of our results. We nd that bull markets are longer and bear markets are shorter in the U.S. compared to Norway. We perform a structural break analysis and nd a major …