Empirical Finance

Hamori, Shigeyuki

doi:10.3390/jrfm13010006

Cited by 3 publications

(1 citation statement)

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“…The studies conducted so far in CEE that considered mutual funds focused mainly on the presentation of the evolution and performance of mutual funds (Filip, 2017a(Filip, , 2017b(Filip, , 2018(Filip, , 2020Tudorache, 2012;Rejnus, 2015a, 2015b;Tudorache et al, 2015;Tudorache, 2017, 2018) or the macroeconomic factors affecting the development of the financial industry (Bajus and Stasova, 2015;Lemeshko and Rejnus, 2015b;Dragot a et al, 2016;Androniceanu et al, 2019).Very few of the studies in the region considered the investor's behaviour (Brokesova et al, 2017;Tudorache and Nicolescu, 2016) and financial conduct of investors (Swiecka et al, 2020). Given the fact that in general investment behaviour differs from one country to another (Ferreira et al, 2012;Sindelar and Budinski, 2019;Hamori, 2020) and the comparison between countries in the region of CEE is scarce (Filip, 2018), the actual research tries to fill in this research gap and we forward the following research question:…”

Section: Introductionmentioning

confidence: 99%

Investment behaviour in mutual funds: is it a knowledge-based decision?

Nicolescu

Tudorache

2020

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Purpose This paper aims to make an analysis of investment behaviour in mutual funds, by looking at different investment decision influencers and trying to identify the extent to which the investment decision is knowledge-based. The paper has three main purposes, namely, to assess the degree to which the considered factors influence investment decision-making in young capital markets from Central and Eastern Europe (CEE); to compare the investment behaviour in the three considered countries; and to characterise investment behaviour in periods of economic turbulence. Design/methodology/approach The researchers considered a model of investment behaviour comprising six influencing factors. Inferential statistics through multiple linear regression was applied using the MATLAB R2014a software. The decision to invest was measured by the flow of new capital attracted by the fund (dependent variable) and the considered influencing factors (independent variables) were: the size of the fund, the risk associated to the fund, the growth of the fund, the growth of the fund category, the performance of the fund in its category. The research was conducted in Romania, Slovakia and Hungary. The period of study included the global economic crisis of 2007-2008. Findings The results illustrated that all considered factors do have an influence on the investment behaviour of investors in CEE, but with different levels of impact. The study concludes that the investment decision is partially knowledge-based, as investors in the region consider only some of the available information when making the decision to invest. Investment behaviour of investors in CEE is rather similar than dissimilar when deciding to invest in mutual funds. However, based on the differences between countries, it can be stated that the Hungarian investor is more mature and more informed than the others, when making investment decisions. Originality/value The study contributes to the exiting literature through the analysis of investment behaviour in young capital markets that are less studied in the literature. The limited number of studies considering mutual funds, usually comprise one fund category, while the present research considers all five most prevalent mutual funds categories for the studied period. It also contributed by collecting data from a less studied geographical region, CEE with three specific case studies, namely, Romania, Slovakia and Hungary that are looked at in a comparative manner.

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Section: Introductionmentioning

confidence: 99%

Investment behaviour in mutual funds: is it a knowledge-based decision?

Nicolescu

Tudorache

2020

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Business Stabilization During the Crisis

Sevastyanova

2020

Lecture Notes in Networks and Systems

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The article touches upon the consideration of corporate management strategies aimed at maintaining the company in the conditions of the economic crisis. The authors highlight the signs and causes of the recession of 2020 as well as the actions taken to stabilize the economy in Russia. The necessity of finding an adequate response to the high risks of bankruptcy of the enterprise, the destruction of supply chains and sales of products, failure to fulfill payment obligations is noted. To solve the problem, theoretical research methods were used: systematization and generalization, the study of documents and activity results when identifying problems and finding ways to solve them, generalization of experience. The article suggests using scientifically based approaches as a means of making managerial decisions. In order for anti-crisis measures to be balanced and effective, it is proposed to use a variety of possibilities of quantitative analysis, mathematical modeling, strategic choice, econometric forecasting, and solving optimization problems.

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A Hybrid Deep Learning Approach for Stock Price Prediction

Dutta

Jain

et al. 2020

Lecture Notes in Networks and Systems

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Empirical Finance

Cited by 3 publications

References 18 publications

Investment behaviour in mutual funds: is it a knowledge-based decision?

Investment behaviour in mutual funds: is it a knowledge-based decision?

Business Stabilization During the Crisis

A Hybrid Deep Learning Approach for Stock Price Prediction

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