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Investor Behaviour During COVID-19 Pandemic: Do They Herding?

In: Macroeconomic Risk and Growth in the Southeast Asian Countries: Insight from SEA

Author

Listed:
  • Firda Nosita
  • Rifqi Amrulloh

Abstract

The authors believe the COVID-19 pandemic has an impact on supply and demand. The potential decline in real sector performance leads to lower expectations of securities performance. The uncertainty of future performance can change investor behaviour. This study tried to gain insight into stock investor behaviour during the COVID-19 pandemic. The results showed that the majority of the investor realized and believed the pandemic would affect the stock market performance. Hence, they did not show herding behaviour and were very confident during the COVID-19 pandemic. The survey also indicates that investors tend to avoid risk rather than take the opportunity to buy at a lower price. Moreover, investors believe that the COVID-19 vaccine will soon be found, and the economy will return to normal. Government and self-regulated organizations (SRO) are responsible for making effective policies to convince the investors about the future prospect.

Suggested Citation

  • Firda Nosita & Rifqi Amrulloh, 2023. "Investor Behaviour During COVID-19 Pandemic: Do They Herding?," International Symposia in Economic Theory and Econometrics, in: Macroeconomic Risk and Growth in the Southeast Asian Countries: Insight from SEA, volume 33, pages 115-135, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:isetez:s1571-03862023000033b008
    DOI: 10.1108/S1571-03862023000033B008
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    More about this item

    Keywords

    COVID-19; investor behaviour; financial behaviour; herding; Indonesia capital market; investment management; G0; G1; G4;
    All these keywords.

    JEL classification:

    • G0 - Financial Economics - - General
    • G1 - Financial Economics - - General Financial Markets
    • G4 - Financial Economics - - Behavioral Finance

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