Year: 2014
Type: article
Abstract: In this article, we investigate the factors that may explain the trading volume evolution on two emerging capital markets, Romania and Brazil. We analyze the impact of both investors who ground their trading behaviour on rational expectations and investors who show psychological and emotional facets of the human decision, which we call behavioural errors, as independent variables on the trading volume as dependent variable. The results indicate that trading is influenced by the investors’ irrational behaviour. Thus, the rationality hypothesis can be rejected for both capital markets.
Source: Procedia Economics and Finance
Author: Camelia Oprean
Institution: Lucian Blaga University of Sibiu
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W2080215667