publication . Doctoral thesis . 2007

Essays on investor behavior and trading activity

Kyröläinen, P. (Petri);
Open Access English
  • Published: 17 Apr 2007
  • Publisher: University of Oulu
  • Country: Finland
Abstract
Abstract This thesis investigates a set of equity market phenomena associated with investors' trading activity, using a comprehensive Finnish Central Securities Depository (FCSD) database that records practically all trades by Finnish investors. This database enables us to classify a large number of heterogeneous investors using both economic and institutional characteristics. The first essay classifies investors by trading activity. It analyzes trading styles of active and passive investors during the boom in technology stocks 1997–2000. We find that the herding tendency of active investors grew monotonically, year by year. Particularly large active investors u...
Subjects
free text keywords: bid-ask spread, day trading, momentum trading, prospect theory, trading activity, volatility
Related Organizations
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