Artikel
Testing overconfidence bias in Pakistani stock market
Excessive trading phenomenon is contrary to the concept of traditional finance that is based on the rational expectation theorem and efficient market hypothesis. Therefore, this study is aimed at exploring the existence of overconfidence behavior in the stock market. The market-wide panel VAR model is used to investigate the lead-lag relationship between stock returns and turnover. Our results suggest that investors are overconfident in Pakistani stock market because turnover depends directly upon stock returns. The findings have important implications for investors and brokers for developing appropriate trading strategy.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Cogent Economics & Finance ; ISSN: 2332-2039 ; Volume: 5 ; Year: 2017 ; Issue: 1 ; Pages: 1-8 ; Abingdon: Taylor & Francis
- Klassifikation
-
Wirtschaft
Econometrics
Financial Markets and the Macroeconomy
International Financial Markets
- Thema
-
overconfidence
turnover
volatility
panel VAR
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Zia, Lubna
Sindhu, Muzammal Ilyas
Hashmi, Shujahat Haider
- Ereignis
-
Veröffentlichung
- (wer)
-
Taylor & Francis
- (wo)
-
Abingdon
- (wann)
-
2017
- DOI
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doi:10.1080/23322039.2017.1289656
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Zia, Lubna
- Sindhu, Muzammal Ilyas
- Hashmi, Shujahat Haider
- Taylor & Francis
Entstanden
- 2017
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