ANALYSIS OF INVESTOR BEHAVIOR: MARKET FEELING AND HERDING BEHAVIOR IN THE PORTUGUESE STOCK MARKET

被引：0

作者：

Leite, Gabriela ^{[1
]}

Ribeiro, Humberto ^{[2
]}

Machado-Santos, Carlos ^{[3
]}

da Silva, Amelia Ferreira ^{[4
]}

Pereira, Jose Manuel ^{[5
]}

机构：

[1] Porto Lusofona Univ, Porto, Portugal

[2] Univ Aveiro, ESTGA, GOVCOPP, Aveiro, Portugal

[3] UTAD Univ, Vila Real, Portugal

[4] Polytech Porto, Porto Accounting & Business Sch, Porto, Portugal

[5] IPCA Polytech Inst Cavado & Ave, ESG, Barcelos, Portugal

来源：

ECONOMIC AND SOCIAL DEVELOPMENT (ESD 2018): 36TH INTERNATIONAL SCIENTIFIC CONFERENCE ON ECONOMIC AND SOCIAL DEVELOPMENT - "BUILDING RESILIENT SOCIETY" | 2018年

关键词：

Herding Behavior; Market Sentiment; Behavioral Finance; Capital Markets; Portuguese Stock Market; PSI-20;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper aims to analyze the behavior of investors in the Portuguese capital stock market, in particular while studying the relationship between the herding behavior phenomenon and the market sentiment. The results obtained allow observing the existence of a significant level of herding behaviour intensity, especially when there is price variation occurrence. On the other hand, when herding is related to market sentiment, the statistical evidence allows one to conclude that herding behavior is encouraged when investors are attentive to the expectations of other market participants, suggesting that the emotional condition inherent of market capitalism is decisive in explaining the phenomenon of herding behavior.

引用

页码：124 / 133

页数：10

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