A Test of Positive Feedback Trading among Foreign Portfolio Investors in Nigeria
Rihanat Idowu Abdulkadir
Abstract:It has been established in the literature that the trading behavior of international investors may increase market vulnerability, especially for emerging markets. Consequently, this study examines whether positive feedback trading exists in the Nigerian stock market. Both descriptive and inferential analyses are carried out on monthly data covering the period 2013 to 2020. Specifically, the ARDL bounds testing approach is employed. Findings indicate that positive feedback trading exists in the market, as stoc… Show more
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