Trading Volume Levels and Stock Returns: Empirical Behavioral Analysis
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...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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EconJournals
2017-09-01
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| Series: | International Journal of Economics and Financial Issues |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/pub/ijefi/issue/32021/354310?publisher=http-www-cag-edu-tr-ilhan-ozturk |
| _version_ | 1828028284706750464 |
|---|---|
| author | Ouarda Moatemri Abdelfeteh El-Bori |
| author_facet | Ouarda Moatemri Abdelfeteh El-Bori |
| author_sort | Ouarda Moatemri |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-04-10T13:49:53Z |
| format | Article |
| id | doaj.art-689aca4fc8544a0a96126b562f17cf84 |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-04-10T13:49:53Z |
| publishDate | 2017-09-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-689aca4fc8544a0a96126b562f17cf842023-02-15T16:10:44ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382017-09-01736326381032Trading Volume Levels and Stock Returns: Empirical Behavioral AnalysisOuarda MoatemriAbdelfeteh El-BoriThe 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.https://dergipark.org.tr/tr/pub/ijefi/issue/32021/354310?publisher=http-www-cag-edu-tr-ilhan-ozturktrading volume levels momentum profits contrarian profits behavioral analysis and loser/winner portfolios |
| spellingShingle | Ouarda Moatemri Abdelfeteh El-Bori Trading Volume Levels and Stock Returns: Empirical Behavioral Analysis International Journal of Economics and Financial Issues trading volume levels momentum profits contrarian profits behavioral analysis and loser/winner portfolios |
| title | Trading Volume Levels and Stock Returns: Empirical Behavioral Analysis |
| title_full | Trading Volume Levels and Stock Returns: Empirical Behavioral Analysis |
| title_fullStr | Trading Volume Levels and Stock Returns: Empirical Behavioral Analysis |
| title_full_unstemmed | Trading Volume Levels and Stock Returns: Empirical Behavioral Analysis |
| title_short | Trading Volume Levels and Stock Returns: Empirical Behavioral Analysis |
| title_sort | trading volume levels and stock returns empirical behavioral analysis |
| topic | trading volume levels momentum profits contrarian profits behavioral analysis and loser/winner portfolios |
| url | https://dergipark.org.tr/tr/pub/ijefi/issue/32021/354310?publisher=http-www-cag-edu-tr-ilhan-ozturk |
| work_keys_str_mv | AT ouardamoatemri tradingvolumelevelsandstockreturnsempiricalbehavioralanalysis AT abdelfetehelbori tradingvolumelevelsandstockreturnsempiricalbehavioralanalysis |