Investor Overconfidence And Trading Volume : The Case Of An Emergent Market

@inproceedings{Zaiane2009InvestorOA,
  title={Investor Overconfidence And Trading Volume : The Case Of An Emergent Market},
  author={Salma Zaiane and Ezzeddine Abaoub},
  year={2009}
}
It has been a challenge for financial economists to explain some stylized facts observed in securities markets, among them, high levels of trading volume. The most prominent explanation of excess volume is overconfidence. High market returns make investors overconfident and as a consequence, these investors trade more subsequently. The aim of our paper is to study the impact of the phenomenon of overconfidence on the trading volume and its role in the formation of the excess volume on the… CONTINUE READING
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