investor overconfidence and trading volume pdf Monday, May 24, 2021 12:11:01 PM

Investor Overconfidence And Trading Volume Pdf

File Name: investor overconfidence and trading volume .zip
Size: 29725Kb
Published: 24.05.2021

Skip to Main Content. A not-for-profit organization, IEEE is the world's largest technical professional organization dedicated to advancing technology for the benefit of humanity.

Investor Overconfidence and Trading Volume

Skip to search form Skip to main content You are currently offline. Some features of the site may not work correctly. DOI: The proposition that investors are overconfident about their valuation and trading skills can explain high observed trading volume. With biased self-attribution, the level of investor overconfidence and thus trading volume varies with past returns.

We test the trading volume predictions of formal overconfidence models and find that share turnover is positively related to lagged returns for many months. View PDF. Save to Library. Create Alert. Launch Research Feed. Share This Paper. Background Citations. Methods Citations. Results Citations. Figures and Tables from this paper. Figures and Tables. Paper Mentions. Blog Post.

Overconfidence can cause mistakes. This is how to avoid it. Citation Type. Has PDF. Publication Type. More Filters. Overconfidence Among Option Traders. Research Feed. Highly Influenced. View 10 excerpts, cites background, methods and results. View 2 excerpts, cites background. View 5 excerpts, cites results and background.

Overconfident Trading of Asian Investors. View 3 excerpts, cites background and methods. The overconfident trading behavior of individual versus institutional investors. Overconfidence, turnover, and return: evidence from the Brazilian market.

View 4 excerpts, cites background. Overconfidence and trading volume. View 1 excerpt, references background. Institutional Investors and Equity Prices.

The High Volume Return Premium. Do Investors Trade Too Much. View 2 excerpts, references background and methods. Highly Influential. View 7 excerpts, references background. Prospect Theory, Mental Accounting, and Momentum. View 9 excerpts, references background and methods. Related Papers. By clicking accept or continuing to use the site, you agree to the terms outlined in our Privacy Policy , Terms of Service , and Dataset License.

OVERCONFIDENCE BIAS: EXPLANATION OF MARKET ANOMALIES FRENCH MARKET CASE

To browse Academia. Skip to main content. By using our site, you agree to our collection of information through the use of cookies. To learn more, view our Privacy Policy. Log In Sign Up. Download Free PDF.


Although the price increases are market wide, investors mistakenly attribute gains in wealth to their ability to pick stocks. Overconfident investors trade more.


OVERCONFIDENCE BIAS: EXPLANATION OF MARKET ANOMALIES FRENCH MARKET CASE

Agrawal, D. Role of herding behavior in influencing investor decision making in India. Indian Journal of Research in Capital Markets, 3 4 , 43 - Chu, W.

JavaScript is disabled for your browser. Some features of this site may not work without it. View Usage Statistics. Bao, Helen. Publication Date

This paper aims to show how overconfidence influences the decisions and performance of individual investors trading on the Pakistan Stock Exchange PSX , with the mediating role of risk perception and moderating role of financial literacy. The deductive approach was used, as the research is based on the theoretical framework of behavioural finance. A questionnaire and cross-sectional design were employed for data collection from the sample of individual investors trading on the PSX.

Pirinsky, Christo,

The proposition that investors are overconfident about their valuation and trading skills can explain high observed trading volume. With biased self-attribution, the level of investor overconfidence and thus trading volume varies with past returns. We test the trading volume predictions of formal overconfidence models and find that share turnover is positively related to lagged returns for many months. The relationship holds for both market-wide and individual security turnover, which we interpret as evidence of investor overconfidence and the disposition effect, respectively. Security volume is more responsive to market return shocks than to security return shocks, and both relationships are more pronounced in small-cap stocks and in earlier periods where individual investors hold a greater proportion of shares.

Беккер застонал и начал выбираться из расписанного краской из баллончиков зала. Он оказался в узком, увешанном зеркалами туннеле, который вел на открытую террасу, уставленную столами и стульями. На террасе тоже было полно панков, но Беккеру она показалась чем-то вроде Шангри-Ла: ночное летнее небо над головой, тихие волны долетающей из зала музыки. Не обращая внимания на устремленные на него любопытные взгляды десятков пар глаз, Беккер шагнул в толпу. Он ослабил узел галстука и рухнул на стул у ближайшего свободного столика.

Investor Overconfidence and Trading Volume

0 Comments

LEAVE A COMMENT