Individual Investors and Volatility

Foucault, Thierry; Sraer, David; Thesmar, David

doi:10.1111/j.1540-6261.2011.01668.x

Cited by 298 publications

(126 citation statements)

References 55 publications

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“…This result also corroborates the initial hypothesis where foreign individual ownership is assumed to give a positive impact on stock return volatility. The result of this study is consistent with the research conducted by Foucault et al (2011), but it is not consistent with the research conducted by . Foucault et al (2011) argue that individual or retail investors have a role as noise traders in the capital market.…”

Section: The Impact Of Foreign Institutional and Individual Ownershipsupporting

confidence: 82%

“…Meanwhile, according to the research conducted by Foucault et al (2011), I ndividual investors's trading activities give a positive impact or increase stock return volatility in Euronext Paris capital market. Foucault et al (2011) argue that individual or retail investors have a role as noise traders in the capital market.…”

Section: Main Hypothesesmentioning

confidence: 99%

“…Foucault et al (2011) argue that individual or retail investors have a role as noise traders in the capital market. Although individual investors who use the kontrarian strategy are supposed to stabilize the capital market volatility, the capital market stabilizing effect is covered by volatility increasing the effect that occurs with momentum trading by individual investors.…”

Section: Main Hypothesesmentioning

confidence: 99%

See 2 more Smart Citations

Competition and Cooperation in Economics and Business

Husodo¹,

Gitaharie²,

Gani³

et al. 2017

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Although all care is taken to ensure integrity and the quality of this publication and the information herein, no responsibility is assumed by the publishers nor the author for any damage to the property or persons as a result of operation or use of this publication and/or the information contained herein. Business -Gani et al. (Eds) © 2018 Taylor & Francis Group, London, ISBN 978-1-138-62666-9 v Business -Gani et al. (Eds) © 2018 Taylor & Francis Group, London, ISBN 978-1-138-62666-9 ix Preface This book is one of the five volumes of proceedings that provides an opportunity for readers to engage with selected papers presented at the 1st Asia-Pacific Forum for Research in Social Sciences and Humanities (1st APRISH) conference held in Depok (Indonesia) on November 7-9, 2016. Quoting the theme of the conference "Competition and Cooperation in the Globalized World," this book would be a valuable contribution to get a better understanding of the future global challenges. Readers will find a broad range of research reports on topics ranging from globalization, poverty, population and some macroprudential perspectives on managing the risk of a more integrated world. One of the unique and valuable dimensions of this conference is the capability for blending the chemistries among educators, students, and researchers from around the world to discuss globalization in a broad spectrum. The reader will discover both common challenges and creative solutions emerge from very diverse settings. The relevance of the conference's theme, towards an evidence-based society, for a variety of disciplines, is reflected in the diverse range of papers that have been submitted for publication. These serve to demonstrate the natural attraction of the conference for sharing ideas and findings within an international community. Overall, the conference was undoubtedly very successful. Plenary lectures and presentations were successfully bridging the gap between the different fields of social sciences, making it possible for non-experts in a given area to gain insight into new areas. Also, among the speakers there were some young scientists, namely, doctoral, master's and undergraduate students, who bring new perspectives to their fields. Terms of use: Documents in EconStor may Competition and Cooperation in Economics and Competition and Cooperation in Economics andThe editors would like to thank all those who have contributed to submit full papers for this conference. We rece...

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Section: The Impact Of Foreign Institutional and Individual Ownershipsupporting

confidence: 82%

Section: Main Hypothesesmentioning

confidence: 99%

Section: Main Hypothesesmentioning

confidence: 99%

See 1 more Smart Citation

Competition and Cooperation in Economics and Business

Husodo¹,

Gitaharie²,

Gani³

et al. 2017

View full text Add to dashboard Cite

show abstract

“…Besides, Table 2 also reveals that the breakpoint is at the third quarter of 1982, when the Taiwan government began to opens its stock market 10 by allowing domestic investment trust companies to raise overseas funds for investment in the domestic market. 11 Complicated by proximity to mainland China and predominance of retail investors, Taiwan had a shallow domestic stock market characterized by high turnover and high volatility (e.g., Huang and Yang, 2001;Foucault et al, 2011). Taiwan's government hoped that attracting institutional investors would mitigate speculation, stabilize volatility, and hasten the market's maturation.…”

Section: Cointegration Test For Full Sample and The Breakpointmentioning

confidence: 99%

Substitution or complementary effects between banking and stock markets: Evidence from financial openness in Taiwan

Cheng

2012

Journal of International Financial Markets, Institutions and Mo

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“…Some studies indicate that individual investors are subject to fads and psychological biases (Odean, 1998;Barber and Odean, 2000;Kumar, 2009;Han and Kumar, 2013), are uninformed noise traders (e.g., Kumar and Lee, 2006;Barber, Odean and Zhu, 2009;Ng and Wu, 2010), and their trading activity adds volatility to stock prices (Foucault, Sraer, and Thesmar, 2011).…”

Section: Introductionmentioning

confidence: 99%