The role of investor behavior in emerging stock markets: Evidence from Vietnam

Exloring the role of different types of investors on stock market is crticial since different types of investors react and behave differently when making investment decision. The role of investor behavior is a very important issue in an immature stock market like Vietnam stock market because the mar...

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Tác giả chính:	Phan T.N.T.
Đồng tác giả:	Bertrand P.
Định dạng:	Journal Article
Ngôn ngữ:	English
Thông tin xuất bản:	Elsevier B.V. 2021
Chủ đề:	Foreign investors Individual investors Investor behavior Investors sentiment Stock return Vietnam stock market
Truy cập trực tuyến:	http://digital.lib.ueh.edu.vn/handle/UEH/61967 https://doi.org/10.1016/j.qref.2021.07.001
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spelling	oai:localhost:UEH-619672021-08-20T14:48:29Z The role of investor behavior in emerging stock markets: Evidence from Vietnam Phan T.N.T. Bertrand P. Phan H.H. Vo X.V. Foreign investors Individual investors Investor behavior Investors sentiment Stock return Vietnam stock market Exloring the role of different types of investors on stock market is crticial since different types of investors react and behave differently when making investment decision. The role of investor behavior is a very important issue in an immature stock market like Vietnam stock market because the market is characterized by a large number of individual investors and low reporting standard. Institutional and foreign investors however play an influential role due to their large exposure and strong investment expertise. Clearly, examining the role of investor behavior and its impact on the stock market in Vietnam is an important topic in finance. A significant body of empirical research has shown that investor behavior is an essential factor to explain stock price that the classical financial theory cannot explain. This research examines the role of investor behavior in stock market by examining the relationship between investor behavior and stock return using the Vietnamese stock exchange data. We create a sentiment index using the principal components analysis (PCA). Consistent with the sentiment and stock return literature, the research shows a negative contemporaneous relationship between investor sentiment and market return. 2021-08-20T14:48:29Z 2021-08-20T14:48:29Z 2021 Journal Article 1062-9769 http://digital.lib.ueh.edu.vn/handle/UEH/61967 https://doi.org/10.1016/j.qref.2021.07.001 en The Quarterly Review of Economics and Finance none Portable Document Format (PDF) Elsevier B.V.
institution	Đại học Kinh tế Thành phố Hồ Chí Minh
collection	DSpaceUEH
language	English
topic	Foreign investors Individual investors Investor behavior Investors sentiment Stock return Vietnam stock market
spellingShingle	Foreign investors Individual investors Investor behavior Investors sentiment Stock return Vietnam stock market Phan T.N.T. The role of investor behavior in emerging stock markets: Evidence from Vietnam
description	Exloring the role of different types of investors on stock market is crticial since different types of investors react and behave differently when making investment decision. The role of investor behavior is a very important issue in an immature stock market like Vietnam stock market because the market is characterized by a large number of individual investors and low reporting standard. Institutional and foreign investors however play an influential role due to their large exposure and strong investment expertise. Clearly, examining the role of investor behavior and its impact on the stock market in Vietnam is an important topic in finance. A significant body of empirical research has shown that investor behavior is an essential factor to explain stock price that the classical financial theory cannot explain. This research examines the role of investor behavior in stock market by examining the relationship between investor behavior and stock return using the Vietnamese stock exchange data. We create a sentiment index using the principal components analysis (PCA). Consistent with the sentiment and stock return literature, the research shows a negative contemporaneous relationship between investor sentiment and market return.
author2	Bertrand P.
author_facet	Bertrand P. Phan T.N.T.
format	Journal Article
author	Phan T.N.T.
author_sort	Phan T.N.T.
title	The role of investor behavior in emerging stock markets: Evidence from Vietnam
title_short	The role of investor behavior in emerging stock markets: Evidence from Vietnam
title_full	The role of investor behavior in emerging stock markets: Evidence from Vietnam
title_fullStr	The role of investor behavior in emerging stock markets: Evidence from Vietnam
title_full_unstemmed	The role of investor behavior in emerging stock markets: Evidence from Vietnam
title_sort	role of investor behavior in emerging stock markets: evidence from vietnam
publisher	Elsevier B.V.
publishDate	2021
url	http://digital.lib.ueh.edu.vn/handle/UEH/61967 https://doi.org/10.1016/j.qref.2021.07.001
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The role of investor behavior in emerging stock markets: Evidence from Vietnam

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