ARTICLE
TITLE

Trading Volume Levels and Stock Returns: Empirical Behavioral Analysis

SUMMARY

The objective of this paper is to provide an empirical behavioral analysis of the relationship between the trading volume and the future evolution of stock  returns. This subject has been examined empirically on the European financial market during 2000-2010. Our empiric findings suggest monotonous relationships between the trading volumes and the schemas of price evolution in terms of the continuity/reversal of prices that vary amongst the trading volume levels as well as amongst the winning and losing shares. Excess volume is thus more dependent on “momentum” profits for loser portfolios and on “contrarian” profits for winner portfolios.Keywords: Trading Volume Levels, Momentum Profits, Contrarian Profits, Behavioral Analysis and Loser/Winner PortfoliosJEL Classifications: G12 G14

PAGES
pp. 632 - 638
COLLECTIONS
Economy

 Articles related

Rinda Septiani, Heru Tjaraka    

This study aims to obtain empirical evidence on whether book-tax differences (BTD) have a negative effect on trading volume activity (TVA) and whether tax incentives (INST) moderate this effect. The population is companies that are included in the Kompas... see more


Ni Nyoman Sri Wardani, I Ketut Budiartha    

Stock returns can describe the acquisition of returns on the buying and selling activities of shares carried out by investors.  The rate of returns are received by investor can be influenced by elements from outside the company. This study aims to d... see more


Luh Ade Wahyu Merthadiyanti, Gerianta Wirawan Yasa    

This study aims to determine whether there is an increase in TVA and a decrease in the bid-ask spread after a stock split is carried out. The population in this study were all companies on the IDX that conducted a stock split in which there were 234 comp... see more


I Gusti Ayu Mas Widhyawati, I Gusti Ayu Eka Damayanthi    

The purpose of this study was to examine the effect of trading volume, market value, and return variance on bid-ask spread value in the stock split corporate. The sample of this study used purposive sampling method and consisted of 28 companies in 2010-2... see more


Firman Pribadi,Aldi Abilawa    

Research aims: This research aims to determine whether there is a significant difference in the average abnormal return on the Jakarta Islamic Index on the Indonesia Stock Exchange in 2017-2020 before and after the Eid al-Fitr holiday and find out whethe... see more