کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5083892 | 1477818 | 2012 | 20 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Technical analyses and order submission behaviors: Evidence from an emerging market
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
The usefulness of technical analyses has never reached a consensus. Unlike most literature studying stock price behaviors surrounding the presence of technical trading signals, this paper examines the heterogeneity in order submission behaviors of investors in the Taiwan Stock Exchange. Our results show that professional institutional investors, particularly foreign investors, behave in a manner consistent with the suggested strategy by the KD trading rule. Namely, after the presence of buy (sell) signals, they intend to buy (sell) the stocks. Conversely, individual investors, acting like liquidity suppliers, tend to net sell (buy) those stocks.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Economics & Finance - Volume 24, October 2012, Pages 109-128
Journal: International Review of Economics & Finance - Volume 24, October 2012, Pages 109-128
نویسندگان
Zi-Mei Wang, Chaoshin Chiao, Ya-Ting Chang,